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let the games begin this July the Olympics will return to the French Capital Paris for a third time billions of dollars have been poured into this year’s competition but how much will be made and will it be worth it for the host country Welcome to The Exchange from our studio here in Doha coming up on this episode we meet the man in charge Kristoff deby executive director of the Olympic Games explains what it takes to create the planet’s biggest International sporting event plus we talk to haime Byam CEO of Beyond Hospitality one company disrupting the sporting event sector so it’s 41 different sports more than 300 events competing over 19 days will big events like this attract the biggest sponsors let’s take a look at who they are Coca-Cola has been an Olympic sponsor longer than any other company signing their first deal back in 1928 well the giant beverage brand has faced criticism for plastic pollution and vowed to rely solely on recyclable glass bottles at Paris 2024 a move designed to help reduce single use Plastics throughout the whole event by 50% something that would be an Olympic first San Francisco based Airbnb signed a 9-year deal with the Olympics Committee in 2019 worth 500 million million euros a study by Financial consultancy deoe predicts Airbnb customers coming to Paris 24 will spend half a billion euros on restaurants and leisure activities in the city and big sponsorship means big money to give us an idea of just how much a 2022 budget review revealed over 4 billion euros were put aside for the organizing committee 1.4 billion is allocated for ticketing like licensing and hospitality and 1.2 billion EUR on Partnerships the river sen is the focal point for the opening ceremony there’s plans for a huge boat parade on the water the river will also be used for competitions but as EUR news reporter siril ferz found out a big cleanup needs to happen first one of Europe’s most iconic Rivers is also one of its most important winding its way through from burgundy to the English Channel the s has brought trade and transportation to Paris for centuries and it remains that same critical Lifeline to Millions today over 50% of all water used in Paris still comes from the sen as the world prepares for the Paris Olympics a major effort is under way to get this Great River ready on time 1.4 billion EUR has been invested to decontaminate the river a giant rainwater storage Basin is being built behind the G it to reduce the amount of water discharged from the sewers into the sand during rainy periods we ask the deputy mayor of the City of Paris what this work meant for parisians this river which was uh polluted during many decades uh and which had not been considered actually like a natural environment but rather like a facility for human life is now considered as it should be so fragile and natural environment we are getting back to that and opening a new page where parisians will be able to enjoy their River as they were able to do it uh one century ago the City of Paris guarantees that the S will be open to all bathers by 2025 and that this great cleanup will be one of the main legacies of the par Olympics back to you guy well I asked Kristoff to be executive director of the Olympics and Par Olympics about the logistics of such a vast event and what attracts people to the games it’s more than half a million people a day that you process through the various venues and then uh you can imagine what it takes in terms of Transportation you’re adding on a any City for that matter Paris you’re are adding about 600 to 700,000 people a day in the transport system and then you have the security challenge all of the venues have to be fully secured so it takes 35 to 40,000 people every day uh you have telecommunication well it’s the size of of Paris overlaid for every single day of competition so it’s exposed it’s complicated it’s sophisticated but it is the world world as one and what we stand for at the time of the games is peace respect friendship and this matters and these values are exposed to the rest of the world now as you heard there the Olympics will bring millions of visitors into the City of Paris and many Spectators will also be looking to the hospitality sector to enhance their overall experience this could be anything from VIP boxes to catering at your seat the hospitality packages at Big sporting events like the Olympics are getting bigger and better haime Byrum is the CEO of Beyond Hospitality an executive with almost four Decades of experience in the industry I asked him for his thoughts on the evolution of hospitality one of the things that we’ve taken a lead on in in in in recent years is to look beyond the security perimeter of the stadium look for what we call anciliary services integrate an offering of accommodation ground transportation offside Hospitality venues all those things are things that if you look at the programs that I’ve had the privilege of been involved with over the years they have been Innovations at the time but they soon become standard to the industry now it’s time for our regular feature business in 60 seconds start the clock giant Retail Group Gap gets ready to release its earnings for the first quarter of the year the 55-year-old iconic clothing brand has enjoyed strong sales growth in recent months causing share valuations to soore the board is continuing its strategy of expanding their most profitable stores like Old Navy the National Bank of Canada reports on Q2 2024 Quebec’s biggest bank saw sales surg to over 10 billion Canadian dollars in 2023 and profits Rose in the first quarter of the year but the looming threat of customers missing loan repayments due to high borrowing costs is one of many challenges the board will need to navigate in the months ahead American software firm Adobe is also set to publish its Q2 results the maker of products like PDF Photoshop and premere pro has been busy building a range of new AI assisted tools that they hope will revolutionize the video editing Market while also creating protections for people and companies against the dangers of deep fakes the games are a competition but also a celebration of the best in the world will all eyes will be on par Paris and the efforts made to prepare the city for an incredible opening ceremony there’s a focus on sustainability and shared values for the organizers and sponsors delivering an economic Legacy as well as protecting the planet well that’s the ultimate Olympic dream well that’s all we have time for on this edition of the show thank you for watching please do check out yours.com for all your latest business news and join us again next time on the exchange