Olympics-Paris 2024 organisers increase their budget by 10%

The Paris 2024 Olympic Games' budget will be raised by about 10% to mainly take soaring inflation into account, organisers said on Tuesday, adding that the increase would be compensated for by projected higher ticket sales.

The Paris 2024 Olympic Games' budget will be raised by about 10% to mainly take soaring inflation into account, organisers said on Tuesday, adding that the increase would be compensated for by projected higher ticket sales. "In a context of high inflation, Paris 2024's budget stays under control, with a limited increase of about 10%, out of which 5% is due to inflation," said Tony Estanguet, the head of the organising committee.

With a 10% rise, the budget of the committee will reach about 4.4 billion euros ($4.53 billion) versus slightly less than the current four billion. The 2024 Olympic Games will be held from July 26-Aug. 11 and the Paralympics from Aug. 28-Sept. 8.

Phrygian caps, named after the iconic red French hats, will be the Paris 2024 Olympic and Paralympic Games mascots as organisers look to celebrate the French revolution's spirit. ($1 = 0.9711 euros)