New data from Visa has indicated that Paris-based businesses saw a notable increase in sales during the Opening Ceremony weekend of the Paris 2024 Olympic Games, with small businesses seeing a 26% boost.
Notable increases in spend were recorded in theatres and museums (+159%), food and grocery (+42%), restaurants (+36%), other retail (+21%), and entertainment (+18%), according to card transaction data recorded by Visa over the weekend from 26 to 28 July.
Consumer spend was also up in other French cities hosting Olympic events, such as football and basketball, with Saint-Etienne (+214%), Lille (+100%) and Marseille (+38%) all seeing significant increases.
Boost to host country
“As a sponsor of the Olympic Movement for almost 40 years and the Paralympic Games since 2002, we know first-hand the impact that the Games can have to boost host-country economies, in line with Visa’s purpose to uplift everyone everywhere,” commented Charlotte Hogg, chief executive officer of Visa Europe.
“Our latest data shows a significant increase in consumer spending among Visa cardholders during the Opening Ceremony Weekend.”
Travel to Paris
Other findings indicate a 39% increase in flight bookings to Paris in the lead-up to the Games compared to the same period in 2023. Travel to Paris by travelers under the age of 35 grew by 120% year-on-year.
The largest share of overseas spending during the opening days of the Games came from US cardholders (29%), with significant increases in spending also observed among those from Brazil (+33%) and Japan (+129%).
“The increased engagement of younger generations, which we see in the travel data, is also an exciting finding and shows the reach and relevance of the Games today and into the future,” Hogg added.
She added that Visa was “particularly pleased” to see small businesses receive a boost in spending, following the company’s efforts to help 13 million of them digitize over the past four years in Europe and connect them to spectators through the Visa Go app.
Visa is a core sponsor of both the Olympic and Paralympic Games.
