NOS reports that while the Paris Olympics are in full swing, the actual economic benefits and hype seem far from what was anticipated.
The International Olympic Committee (IOC) states that there are still hundreds of thousands of tickets available for purchase. Even for popular events like the men’s 100-meter sprint final, tickets are still on sale, ranging from 295 euros to 1,000 euros. Less popular sports such as hockey, rowing, or handball can be watched for as little as 50 euros, and there are still many unsold seats at football matches. However, the IOC claims that ticket sales have been very successful so far.
This time last year, hotel prices in Paris skyrocketed; now, occupancy rates are under 80%, and hotels are struggling to sell their empty rooms. Tourists seem more inclined to leave after watching events on the same day. During the Rio and London Olympics, the attendance rate was approximately 90%.
Airlines scheduled additional flights to France, but there are clearly not as many passengers as expected, leaving many seats empty. It is reported that Air France and KLM expect losses of 200 million euros, while Delta Airlines anticipates a loss of 100 million euros.