NEW DELHI: The French economy, is expected to boost from the Olympic and Paralympic Games, according to the French central bank Banque de France.
The central bank forecasts a growth of nearly 0.5 percent in the July-September quarter, with the Games contributing up to 0.25 percentage points to this expansion.
The projection aligns with the estimate from France’s statistics agency INSEE, which anticipates a 0.3 percent point increase in third quarter growth due to the Games, resulting in an overall growth of 0.5 percent for the quarter.
Earlier, there were concerns that the games might negatively impact the French economy, as many tourists who would typically visit Paris were staying away. Hotels and airlines, such as Air France, also reported a decline in bookings.
Additionally, the Banque de France acknowledged the uncertainty surrounding its forecast, stating that the positive effect from the Games is countered by the negative impact of the unclear political situation following the inconclusive parliamentary elections in June and July.
The central bank forecasts a growth of nearly 0.5 percent in the July-September quarter, with the Games contributing up to 0.25 percentage points to this expansion.
The projection aligns with the estimate from France’s statistics agency INSEE, which anticipates a 0.3 percent point increase in third quarter growth due to the Games, resulting in an overall growth of 0.5 percent for the quarter.
Earlier, there were concerns that the games might negatively impact the French economy, as many tourists who would typically visit Paris were staying away. Hotels and airlines, such as Air France, also reported a decline in bookings.
Additionally, the Banque de France acknowledged the uncertainty surrounding its forecast, stating that the positive effect from the Games is countered by the negative impact of the unclear political situation following the inconclusive parliamentary elections in June and July.