Tourists steer clear of Paris Olympics leading to significant financial impact on Air France

In preparation for the upcoming 2024 Olympics in Paris, concerns are rising over a potential decrease in tourism due to large crowds and increased prices. Air France, the national carrier of France, is bracing for a significant financial impact of €180 million as tourists are deterred from visiting the French capital during the Olympic period. The airline has reported a decline in bookings to and from Paris compared to other major European cities, attributing this trend to non-Games enthusiasts avoiding the city amidst expectations of crowded conditions and elevated costs for accommodations and activities. With the Olympics scheduled to take place from July 26 to August 11, Air France anticipates a normalization of travel demand post-Games, particularly in late August and September. The company projects to transport 20% of all athletes and para-athletes traveling to Paris, with a notable influx expected around the opening and closing ceremony dates. However, concerns over potential disruptions stemming from the French election results, particularly with the far-right National Rally party leading in polls, have further dampened tourism prospects in Paris. Despite the revenue setback forecasted by Air France, the airline remains committed to maintaining its flight operations during the Olympic period. In contrast to the 2012 London Olympics, which saw a surge in tourist arrivals, the current outlook for Paris suggests a different scenario with a notable avoidance of the city by international markets. While the rail group Eurostar anticipates record-high travel volumes coinciding with the Games, the overall sentiment points towards a subdued tourism landscape in Paris during the summer of 2024.