Megaevents like the Paris Olympics are a host's time to shine

Getty / Nick Donaldson

The countdown is on and, in a week, the people of Paris, and France, will be excitedly shouting out to the world: “Bienvenue et merci. Que les jeux commencent.”

The world will be watching from July 26 to August 11 as more than 10,000 athletes come together from near and far to compete in almost 330 sporting events. But it does not end there – the Paralympic Games will continue to inspire the world from August 28.

To host the Games and hold the world’s attention is an opportunity of, shall we say, Olympic proportions for Paris, just as it is for any host of a megaevent but only if the country or city fully embraces it. Although in this case the Games arrive at a time of short-term transition for the host country – France is in a kind of political limbo following the upheaval of its recent snap elections – the long-term implications are many.

But what exactly do we mean by this? Why is playing host so important for cities and nations? What difference does it really make? What difference indeed.

Playing host goes far beyond the moment of the megaevent itself. For any host, it is an opportunity to maximise the return on investment from being in the local, regional or global spotlight. The reality is this: hosting megaevents such as the Olympic and Paralympic Games, Expo 2020 and Cop28 in Dubai, or the World Cup in Qatar comes with a huge price tag. Enormous investment must be found for venues, IT infrastructure, transport networks, VIP demands and servicing visitors from around the globe. There must, therefore, be enormous benefit. Without such a plan, the promise of hosting a megaevent will never be fulfilled.

So how do leaders of cities and nations that are debating taking on such a huge cost and commitment decide? Many ask themselves over and over: "Should we do it?" Astute leaders, however, understand that the right question is not “Should we?”, but rather "What if we didn't?"

As has been seen in many potential and successful megaevent destinations – even those that withdrew their candidacy – leaders are forced to think carefully about the opportunity cost from a society-building perspective, asking with honesty and rigour: “If we do, and if we don’t, what would our economy look like, what would our infrastructure look like, what would our investment proposition look like, what would our sense of community look like, and critically, what would our identity look like?”

It’s all about the return on investment. Is it worth it?

To understand this, we must look at new ways of defining return on investment that move beyond the classic dollars-and-cents understanding of the term.

Megaevents offer a return on identity, redefining what a nation stands for as a centre of excellence or as a country that can deliver on specific areas of expertise – sport, technology, logistics or communications for example. This was brilliantly shown by Dubai with its hosting of the 2020 Expo and last year's Cop28.

The power of a megaevent to change how a host is viewed, recasting it as a place of welcome, hard work and creativity, was powerfully demonstrated by Qatar with its hosting of the Fifa World Cup, an event that left the country as a destination to visit long after the closing ceremony.

Although the megaevent officially welcomed the world from November 20 to December 18, 2022, Qatar is continuing to enjoy strong tourism momentum two years on. Full credit for this has been given to World Cup effect that not only enabled Qatar Tourism to record 318 per cent growth in international arrivals in 2022 from the year before, but sustained growth through 2023, with international arrivals up 58 per cent on 2022’s record results.

According to Saad Al Kharji, chairman of Qatar Tourism, the success of the World Cup “served as a catalyst for showcasing the unique culture, heritage and hospitality of Qatar and the GCC region to the world”. Importantly, this applies to not only visitors from international destinations, but also to domestic travellers who are able to enjoy the place they call home through new local experiences.

The fuel for the mind and spirit that megaevents offer is critical, especially for nations undergoing radical transformation politically or socially. It infuses a deep sense of confidence and conviction that generates excitement for the future. This was beautifully brought to life with the 2010 World Cup in South Africa that changed not only how the world viewed South Africans, but how South Africans viewed one another.

An estimated 3.2 billion people worldwide (roughly 46 per cent of the global population) watched at least a minute of the South Africa World Cup on TV, with the megaevent’s final match being viewed by an estimated 910 million people. These viewers not only saw Spain become world champions, they saw South Africans being recognised and embraced as a nation alive with possibility.

The opportunity created by taking on a massive challenge that demands the application of certainty, creativity and the coming together of a community determined to achieve success was also seen at the 2020 Tokyo Olympics. These games offered a world of fans and followers frustrated by the Covid-19 pandemic the chance to be a part of the experience thanks to digital engagement.

Megaevents can also unlock critical investment that is desperately needed for the delivery of hardware and software for long-term national productivity, stability and security. In South Africa, preparations for the World Cup led to nationwide upgrades to airports, road networks, public spaces, accommodation as well as information and communications technology, all alongside the development of stadiums.

A host’s ability to dream big and deliver even bigger naturally attracts interest from potential foreign investors, trade partners and other entities or individuals seeking to tap into the host’s potential. It is impossible to forget the impact that the 2008 Beijing Olympics had on China’s ability to elevate its global standing as a proud, purposeful, worthy and welcoming place for business.

Megaevents bring together the people of the host city or nation in a way that awakens a sense of community pride like nothing else. This goes beyond the incredible impact that megaevents have on job creation and skills development, two intrinsic benefits that emerge from megaevent preparations. It is also about pure and simple excitement in local participation – communities becoming actively involved in something happening in their backyards. London showed this to the world when more than 200,000 people across the UK applied for 70,000 volunteer positions, ultimately providing over eight million volunteer hours during the 2012 Olympic Games.

Few strategic growth initiatives can act as powerful interventions in the way megaevents can. But the opportunity must be embraced holistically, with legacy as a leading objective.

Are there risks? Of course. There are always risks about delivering on time, on spec and on budget. However, and as proven by many megaevents, when leaders take on challenges with absolute clarity of the greater reasons behind it such events prove to be so much more than momentary global spectacles.

Megaevents are transformative opportunities for host cities and countries to establish and embed a legacy that changes the scope of possibility for their economy, society and importantly, identity, for generations to come.