Behind the sporting exploits of the Olympic and Paralympic Games lie heavy economic stakes. The Olympic Games are also an opportunity for French companies to sell their know-how to the whole world.
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From the major official sponsor to the small and medium-sized French company, the Olympic Games are not wasted on anyone. Behind the scenes, all these companies are working hard to show the best of themselves, just like the efforts they usually make at major international trade fairs the rest of the year. This time, everything is happening in Paris. One structure is taking advantage of this unique moment to create a link between all these players. It is Business France, whose role is to support French companies in their international development, but also to develop foreign investment in France.
One of these highlights took place on Friday, August 2. It took place at the United States Embassy, a stone’s throw from the Elysée Palace. No fewer than 150 French and American companies were gathered under the same roof to discuss business. A unique opportunity for some French SMEs and, above all, to discuss concretely the next event: the Los Angeles 2028 Olympic Games. Present at this event, the city’s mayor, Karen Bass, was in great demand.
Without waiting for the Olympic Games, the government has set itself the goal of increasing the number of French exporting companies to 200,000 by 2030. There are currently between 100,000 and 150,000. Achieving the goal of 200,000 would strengthen and expand the network of these exporting companies, which are mainly composed of mid-cap companies and SMEs (the biggest job creators in France today). But also make up for our delay in terms of foreign trade.
Foreign trade remains the Achilles heel of the French economy, but it is picking up some colour. The latest available data are from the spring and partly explain the slight and unexpected increase in our economic growth in the second quarter, unlike some of our Eurozone partners including Germany. The Olympic effect is not unrelated to this. Work had to be accelerated so that all the Olympic structures were ready and this generated activity. It remains for French companies to convert the trial. The Paris 2024 Olympic and Paralympic Games offer them a great international showcase.
