Parisians cash in on Olympic Games frenzy amid heightened security concerns
27 March 2024 15:38
By the end of July, Olympic fans will flood Paris. However, many city residents plan to leave the capital at this time to make a profit. Renting out a well-located apartment during this period can earn a fortune. "If it is rented out for the entire duration of the games, it is more than a monthly salary," a Paris resident explained.
Many Parisians will leave the city for the duration of the Olympic Games, which will take place between 26 July and 11 August, reports Reuters Agency. One of the reasons is the difficulties related to transportation and daily life that will arise with the influx of fans. Another reason for leaving the city at the end of July is the desire to make money.
It is estimated that renting out a well-located apartment during the Olympic Games can cost from £270 to even £410 per night. "In Paris, which is very hot in the summer, there will be a lot of people. Using public transportation will be somewhat complicated, so I prefer to be in a place that is less crowded and quieter," told Reuters a resident of Paris, not hiding that another motivation is the desire to earn money. "If I rent my apartment to someone for the entire period of the games, it will be more than a monthly salary," she added.
Airbnb's Director for France and Belgium, Clement Eulry, believes that the Olympic Games will allow generating more than one billion euros in economic impact in France. "According to Deloitte," stays on Airbnb should enable hosts to generate additional income for residents of Ile-de-France and generate more than one billion euros in economic impact in France," he told Reuters Agency.
Terrorist threat in France
Four months before the Games, France is under the highest level of terrorist threat. The decision was made on Sunday in response to Friday's terrorist attack in Krasnogorsk near Moscow, where more than 130 people died.
"In connection with the responsibility for the attack claimed by the Islamic State and the threats our country faces, we have decided to raise the alert level to the highest," French Prime Minister Gabriel Attal shared on the X portal. The decision was made after a meeting of the National Defense and Security Council, which was chaired by President Emmanuel Macron.
Source: Reuters, PAP
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