Why Australian corporates are aiming for gold at the Paris Olympics and Paralympics

Major events are the new dinner and drinks of the corporate world, providing the ideal environment for deal making — and events don’t come bigger than the Olympic Games.

It’s not only Australian athletes who will be hoping to bag the gold at the Paris Olympics and Paralympics, with corporates also flocking to the French capital in search of a winning deal.

For the period from July 22 to August 12, bookings to Paris with Flight Centre’s Corporate Traveller have pole-vaulted 123 per cent on the same time last year, with the growth expected to climb as high as 200 per cent.

Corporate Traveller global managing director Tom Walley said the Games were simply one of the world’s best networking opportunities and small and medium businesses wanted to be part of the gold rush as much as big corporations.

“Major international events such as the Paris Games offer far more than entertainment,” said Mr Walley.

“They offer a rich and rare chance to engage with leaders, decision makers, peers and even competitors, and corporates see immense value in them.”

With the delayed Tokyo Games off-limits to spectators when they were staged in 2021, Mr Walley said there was clearly pent-up demand for Paris.

“The fact Corporate Traveller has already seen a 123 per cent hike in bookings for the Paris Games period amid an economic pinch also shows Australian businesses see value in attending and investing in major events such as these,” he said.

“It’s an investment that reaps major insights and inspiration for companies keen to stay at the forefront of their industry.”

According to Corporate Traveller’s own data, the informal setting of major events provided the ideal atmosphere for deal-making, leaving “dinner and drinks” in their dust.

The shared experience of the event was considered to foster deeper connections and trust between parties, driving a sense of community and engagement.

There was also the opportunity to conduct some informal market research through the sheer diversity of crowds attracted to big events.

Helicopters Australia owner Geoff Calder.

Helicopters Australia owner Geoff Calder was an early adopter of combining business and major events, joining colleagues and clients at the Formula One Grand Prix in Monaco and Singapore.

He said the supercharged atmosphere trackside was perfect for doing business, as well as team-building.

“It’s just a great way to network, it takes away the awkwardness of a boardroom, you can relax a bit more and network with colleagues or other companies,” Mr Calder said.

“There’s a shared point of reference right off the bat, which is the perfect ice breaker.”

He said one of his biggest deals was landed at the F1 Grand Prix in Singapore, which was the icing on the cake.

“It makes the trip very worthwhile, and it’s always a good experience,” said Mr Calder.

More than 15 million tourists are expected to flood Paris over the two weeks of the Games, in addition to 10,500 athletes who will compete in 329 events.

As a result, the economic benefit to the French capital and surrounds was tipped to be as much as $18bn.

Mr Walley said with Brisbane due to host the Games in 2032, there was another reason for Australian business operators to check into the Paris Olympics.

“It’s likely Australian businesses and corporates are looking to lay a strong foundational network for when the Queensland capital hosts the event in just eight years,” he said.

The Brisbane Games were forecast to drive $8.1bn in benefits for Queensland, and $17.6bn across Australia.

Originally published as Why Australian corporates are aiming for gold at the Paris Olympics and Paralympics