THE AMERICAN BUSINESS SCHOOL OF PARIS IS PREPARING FOR THE 2024 OLYMPICS!

PARIS: THE 2024 WORLD CAPITAL OF SPORTS

On September 13, 2017, the International Olympic Committee (IOC) designated Paris as the host city for the Summer Olympics in 2024, while Los Angeles decided to aim for the Games of 2028. After a hundred years (Paris hosted the Olympic Games of 1924), the City of Light will again be the scene of a world sporting event, an opportunity to showcase the capital and the country to the eyes of the world: 15,000 athletes, 25,000 journalists, millions of spectators and billions of viewers… In 5 years, Paris will be the world capital of sport. And it has this time frame to prepare to host one of the largest (if not the largest) world sports events, which will impact the economic, social, but also environmental life of the country.

Even though the Paris 2024 Games will rely on 95% of existing or temporary sites, the capital and its suburbs will undergo some transformations. The planned budget for the organization of the Summer Olympics is 6.2 billion euros, with a financial impact estimated at some 10 billion euros (according to a study by the CDES).

THE IMPACTS OF PARIS OLYMPIC GAMES

Organizing Olympic Games is often synonymous with development for the organizing country, namely thanks to a boosted economic activity. The media impact is also big (3.7 billion viewers, 25,000 journalists) and is a real promotional tool at the international level. France will thus be able to boost its influence by highlighting its expertise, its know-how, its territories… Which will in turn help open new markets for the country.

At the economic level, the organization of the Olympic Games is expensive for the organizing cities (8.9 billion dollars for the last 6 editions), without forgetting that an additional cost is systematically recorded: on average, the amount is 2.7 times higher than the estimated budget. However, economic growth is noteworthy, with gains divided between:

• direct revenues, including television rights, ticketing and sponsorship;
• indirect revenues, by welcoming many visitors, and creating jobs;
• awareness and visibility gain with investors or future tourists.

In addition, the Olympic Games represent a tremendous lever for territorial progress, innovation and sustainability, drawing the city of tomorrow on the basis of environmental excellence. Paris has chosen to establish the Olympic Village and the Aquatic Center within the Seine-Saint-Denis, with the aim of facilitating the transformation of this young and cosmopolitan territory. 5,000 dwellings will be built and put at the service of the population.

The Olympics, an employability lever for young talents

About 150,000 jobs, already existing or to be created, are planned, mainly between 2021 and 2024, with a peak in the last year (according to a study of the Organizing Committee of the Olympic Games – Cojo). Building, events, security, hotels, catering, marketing… A wide range of sectors will see more job creation and a growth in volunteering. In fact, between 50,000 and 70,000 volunteers are needed to run the Games. The transversal functions and management teams are more essential than ever to better manage all these players.

According to a recent survey, 54% of Parisians aged 12 to 25 years wish to engage in the 2024 Olympic Games. The Paris Committee also specifies that “Paris 2024 is thought for youth.” An enthusiasm that requires the intervention of local communities to optimize this stepping stone to employment.

The balance between sponsorship and ethics in the Olympics

The repercussions of the organization of the Games are significant for the organizing country. Major brands made no mistake in doing huge sponsorship deals in the Olympics. One of those brands is Panasonic Corporation, which is the IOC’s first global sponsor to sign for the 2020 and 2024 Olympics, and other big names would like to join this prestigious list. Thus, Total announced its willingness to sponsor the Paris Olympics 2024, but Anne Hidalgo, Mayor of Paris, reminded of the environmental commitment of the city, and that choosing a sponsor specialized in fossil fuels would be inconsistent…

Values ​​and ethics are indeed part of the Olympic Games and an independent commission was created in 1999 by the IOC to ensure respect for ethical principles. This commission prepares and updates implementing texts of the Olympic Charter, examines complaints and advises the IOC on the implementation of ethical principles. It also has a prevention mission with the entire Olympic Movement to ensure better application of ethics rules.

THE AMERICAN BUSINESS SCHOOL OF PARIS PREPARES ITS STUDENTS FOR THE OLYMPIC GAMES

There is a real demand for employees specifically trained for the Games. This is why The American Business School of Paris has decided to propose a new minor at the heart of its BBA program: “Olympic Games and Cross-Cultural Management”. This minor, which gives 12 credits, takes place over 4 semesters, around 4 themes:

• sports branding and the Olympic Games;
• law and ethics of the Olympic Games;
• the economic impact of the Olympic Games;
• logistics and management of the Olympic Games.

With courses entirely taught in English, professional experiences planned in France or abroad, the BBA allows its students to acquire all the knowledge and skills needed for the administration and development of a business in 4 years. At the end of their studies, and thanks to this new minor, they can choose between many careers such as:

• sports branding and marketing;
• event logistics and administration;
• expertise in event economics and finance;
• cross-cultural management;
• administration of cross-cultural events;
• athletes and athletic events management;
• expertise in ethics and law of the sports industry.

Do you want to follow a professionalizing training, preparing you for the jobs of tomorrow, with the possibility of obtaining a double graduation? Discover now the BBA of The American Business School of Paris, with its “Olympic Games” minor.