So much of branding is tied up in the intangible, irrational emotions that drive preference and purchase. At Landor we call this “putting a dollar-value on a feeling”. Current estimates suggest that up to €9 billion was invested in the Games, with half of that going on infrastructure projects in transport, construction, and urban renewal.
While the eventual recoup from these upgrades to the French capital’s systems was integral to the business case for hosting the Games, what of the ROI from brand? This was two weeks of wall-to-wall money-can’t-buy media coverage for Brand Paris, with record-high exposure to 32.2 million daily viewers (a 77% increase over the Tokyo Olympics) [AdAge]
Can we put a dollar value on the feeling that Paris 2024 created? Firstly, there’s the fact that the city managed to pull off the Games without a hitch. No strikes, no security issues, no overcrowding… in fact, only reports of good vibes and even better prices as supply (surprisingly!) outpaced demand.
In short, none of the reputational challenges that have afflicted perceptions of the city for the last decade. The last fortnight showed that when France decides to organise a world-event, it delivers. Early signs look promising, with boosts to the country’s economy and tourism forecast by the Bank of France and Ministry of Tourism. (Forbes)
And then there’s the internal effect. In a country that’s been marred by political division, and a general sense of declinism (over 60% of people polled in June believed the country was going in the wrong direction), the Games have been “balm for the heart” as the French say.
A sense that there’s a lot to be proud of has reinstalled itself. President of the Olympics Organizing Committee for Paris 2024, Tony Estanguet stated “France rediscovered itself” in his closing ceremony speech. In organisational terms, the Games has more than succeeded in engaging its internal audience.
Was it worth the €9 billion price tag? We’ll have to wait and see but for now, there is little perceptible buyer’s remorse.
by Matt Kissane, global executive director at Landor.
