Frankfurt, 6 September 2023 – The fifth expert talk of the “YOUR IDEAS. YOUR GAMES.” dialog initiative was dedicated to the potential impact of the Olympic and Paralympic Games on the German economy.
During the course of the discussion, it became quite clear that a differentiation had to be made between immediate and long-term effects when evaluating the economic viability of the Games. The fact that the Games generate revenue as well as costs is often overlooked. The long-term benefit of presenting Germany as a business location and tourism destination should not be disregarded.
In a video message to the participants, Siegfried Russwurm, President of the Federation of German Industries, emphasized: “The Olympic and Paralympic Games will also put our country in the global spotlight for weeks on end. That would open a wealth of opportunities for Germany as a business location, and I strongly support the idea.” The experts in the studio backed up that sentiment: Hosting the Olympics in Germany is a specific goal for the German economy that we can all work towards together.
The guests had plenty to say on the subject:
Markus Luthe – Managing Director, Hotelverband Deutschland (Hotel Association of Germany)
“I envy my French colleague, who are due to host the Olympics. The Games are a real morale booster for the hotel and gastronomy industries.”
“Our industry began preparing for the 2006 World Cup as early as 1999. Our strong level of teamwork and the effort we put into welcoming our international guests in the best possible way were key success factors back then – true to the motto: “Die Welt zu Gast bei Freunden” (“The world is visiting friends”). All of that can be recreated through the Olympics.”
“The ‘Stadium to Job’ project has enabled Paris to make nearly 60% of the long-term unemployed fit for the job market again. That greatly benefits society as a whole.”
Thomas Pennartz – Managing Director, Rheinischer Sparkassen- und Giroverband (Rhineland Savings Banks and Giro Association)
“The Olympics Games are flagship projects that are needed in both the business world as well as in society. We need a goal that is worth working towards.”
“The 2036 Olympics would give us a specific target that would help us speed up processes that would otherwise be slow to get off the ground.”
“We are a country of clubs and associations. As such, there is nothing that would be appreciated more than having the Olympic Games staged in Germany.”
Prof. Dr. Holger Preuß – Sports Economist, Johannes Gutenberg University Mainz
“In order to provide the necessary training facilities for all male and female athletes, numerous sports arenas and swimming pools will be needed in the respective cities for the Games. That is one way in which the Olympics can benefit recreational sports in the long term. If the Games are not held in Germany, we will end up spending the same amount of money, but we won’t get anything in return.”
“We benefit from all Olympic Games, because, as the world’s export leader, many of our services are offered abroad – in Paris as well. Why don’t we simply host the Games in Germany and invest in the local economy?
“We would receive two billion euros from the IOC for the organization of the Games. On top of that, additional money would flow in from tourism and sponsorships. The costs associated with such events often dominate the conversation, but we rarely talk about the revenue that is generated by the Olympics and the long-term benefits.”
Claudia Wagner – Managing Director, Deutsche Sport Marketing GmbH
“We have to determine what kind of concept suits us best in Germany and what kind of immediate and long-term added value we want to create through the Olympics.”
“The Olympic and Paralympic Games are more than just fleeting events. They are a means to the sustainable development of Germany as a business location.”
“Being a host country is fantastic. That is something that has been lacking in recent years: having the courage to work together on a goal as ambitious as hosting the Olympic and Paralympic Games.”
Additional information can be found on the initiative’s website and social media platforms: www.deine-spiele.de