The Impact of the 2024 Paris Olympics on Local Businesses

The Impact of the Paris Olympics on Local Businesses

Fabrice Pierret, the manager of Le Lutétia, a charming brasserie nestled on the picturesque Île Saint-Louis, is no stranger to the bustling crowds of tourists who flock to enjoy the stunning views of the Seine River, often accompanied by a glass of fine red wine and classic steak frites. However, as the opening ceremony of the highly anticipated 2024 Paris Olympics approaches, the once-thriving throngs of visitors have dwindled to a mere trickle. Business has plummeted by a staggering 50 percent — a trend echoed by nearby shopkeepers who are also feeling the pinch of this unexpected downturn.

“It’s a catastrophe,” Mr. Pierret lamented, glancing across his nearly empty terrace. Before him, thousands of brightly colored bleacher seats lined the banks of the Seine, now cordoned off in preparation for the grand festivities. The river, typically alive with boats and activity, flowed quietly by, evoking memories of the stark silence during the Covid lockdowns.

“The Olympics were supposed to be a boon for local businesses,” he added, shaking his head in disbelief. “Instead, we’re facing an unprecedented challenge.”

In anticipation of the Olympics, many businesses had relied on the expectation of an economic surge. The city is transforming into an expansive outdoor sports arena, with the opening ceremony set to take place this Friday. Athletes will be transported via a flotilla along a four-mile stretch of the Seine, culminating in a spectacular display near the iconic Eiffel Tower, with over 300,000 spectators expected to line the route.

However, central Paris has effectively become a maximum-security zone, featuring miles of metal fences and police checkpoints, which has contributed to the decline in foot traffic and, consequently, customer patronage. The contrast between the vibrant energy anticipated during such a significant event and the current quietude is striking.