Paris 2024: an economic and technological boost that transforms the nation.

The Paris 2024 Olympic and Paralympic Games not only marked a milestone in the history of sports but also became a significant engine for the economy of the French capital and other cities. With the participation of 10,500 athletes from 206 countries, the event was a unique opportunity to demonstrate how the combination of sports and technology can drive economic development. Visa, as the official payment technology partner, played a crucial role in this event. The company implemented a contactless payment system that allowed visitors and organizers to conduct transactions efficiently and quickly. Charlotte Hogg, CEO of Visa Europe, emphasized that their long-standing partnership with the Olympic movement reflects a commitment to the economic growth of host countries. This technology was particularly effective at 3,500 points of sale distributed across 32 Olympic venues and 16 Paralympic venues, enhancing the experience for thousands of spectators and participants. The effects on local commerce were immediate. During the first weekend of the Games, small business owners in Paris reported a year-on-year sales increase of 26% among Visa cardholders. This increase translated into a positive impact across various sectors; sales at theaters and museums surged by an astonishing 159%, while spending on food and groceries rose by 42%. Restaurants also saw a 36% increase in their revenue, reflecting how an event of this magnitude can revitalize the local economy. The rise in tourism was not limited to Paris. Other French cities, such as Lille, Saint-Étienne, and Marseille, also benefited from the event. Lille recorded a 188% increase in visitors, while Saint-Étienne and Marseille saw increases of 150% and 48%, respectively. These figures demonstrate that the Olympic Games have a multiplier effect across various regions, boosting not only the Parisian economy but also that of the entire country. Among the transactions recorded during the event, data revealed that Visa cardholders spent more in Paris compared to the previous year. The United Kingdom led the year-on-year spending growth with a 42% increase, followed by Latin America and the Caribbean at 34% and the United States at 32%. These numbers testify to the global interest in the Games and their ability to attract international visitors. However, innovation was not limited to payments. Technology also played a fundamental role in athlete performance and competition management. The implementation of "Smart Stadiums," wearables, and sensors in clothing allowed coaches and referees to obtain real-time data. Generative artificial intelligence facilitated the planning of training and competitions, optimizing athletic performance and enhancing the overall experience for participants. These innovations not only improved athlete performance but also offered a new approach to managing sporting events. Organizers were able to use precise information and real-time recommendations to make necessary adjustments in the logistics and operations of the Games. This allowed everything to run more smoothly, benefiting all involved. The Paris 2024 Olympic Games will not only be remembered for the medals won and records set but also for their significant impact on the local and national economy. The synergy between sports and technology has proven to be a powerful catalyst for economic growth. As the event progresses, it is clear that its legacy will extend far beyond the competitions, leaving a lasting mark on the economy and society in France. In summary, the Paris 2024 Olympic and Paralympic Games have proven to be a phenomenon that transcends the sports realm. With their ability to attract tourists, boost local commerce, and promote technological innovation, they have set a new standard for how sporting events can positively influence a country's economy. As the world watches, it is evident that Paris is not only the City of Light but also a shining example of how an event can transform an entire nation.