The upcoming Olympic Games in Paris in the summer of 2024 will shine a big spotlight on the destination, potentially disrupting the corporate events calendar. Initially, it seemed like an excellent opportunity for the market, but on closer inspection, there are many more factors to consider. For some companies of the MICE sector, the Olympics may be a hindrance.
While some may have expected the Olympics to boost business during a quiet period, this may not be true. Some of the events that were scheduled to take place during this time will be canceled or postponed. This has led to a lot of uncertainty, fear, and contemplation. The affected period now stretches from mid-June to the beginning of the school year in September.
Olympic Games: MICE Events Relocated or Postponed
The Olympics also cause events to be held outside of Ile-de-France. Countries like Belgium and Luxembourg take advantage of the opportunity to expand the MICE sector offer during the Olympic Games.
This year, companies in France are strategically adjusting their event schedules, moving certain events to June and October. There is a noticeable surge in demand from mid-September to October and a significant rise in requests for venues in natural and smaller settings. This trend, which emerged during the health crisis, is gaining momentum again this year, providing an avenue for more remote locations to attract business customers.
High Prices and Travel Difficulties
Companies are currently grappling with the challenges of securing venues and managing the escalating prices of service providers. This situation has sparked concerns about the potential cost increase and logistical complexities. Consequently, there is a noticeable shift in the lead time for booking events, with companies now making reservations for September, when they typically plan for the summer.
At the same time, infrastructure development positively impacts the MICE sector, particularly in terms of public transport and overall development.
This unusual year will undoubtedly enable a wider and more diverse range of participants to access this business clientele, benefiting the French tourism sector in the end.