(Paris 2024 Olympics) Supports French Economic Growth by 0.35%

The French Central Bank revealed its estimates that the French economy is on track to grow by at least 0.35% in the third quarter, due to temporary activity related to the Summer Olympics (Paris 2024 Olympics) that were held during the period (July 26 – August 11).

The Central Bank expected that the basic growth in the second largest economy in the eurozone – the European Union countries that deal with the euro as a single currency – will range between 0.1% and 0.2% for this quarter compared to the previous three months, when it expanded by 0.3% on a quarterly basis, with the Olympic Games adding another quarter of a percentage point of growth through temporary increased activity in hotels, restaurants and other companies that provide services affected by the Olympic Games that concluded yesterday, Sunday.

The forecasts came ahead of the Olympics, which Paris is hosting for the third time, with revenues of around 10.7 billion euros, including 3.5 billion euros from tourism, in addition to around 250,000 permanent jobs, according to the Center for Law and Economics in Sport, while another study on the positive impact of the 2024 Summer Olympics on the French economy, estimated gains of 8.9 billion euros ($9.6 billion) for the city.