Olympic costs could crush host cities. Paris 2024 promised cheaper Games.

But organizers of the Games that begin here on Friday say they have learned from the past and can offer a better model.

Paris has tried to keep costs down by minimizing new construction. France already had plenty of sports venues, including a major soccer stadium, the Stade de France, and a tennis complex, Roland-Garros. So the main projects in the budget were the Olympic Village, a water park and an 8,000-seat arena — all of which had plans for use after the Games.

“The plan from the beginning was to save money and not invest in things that are not useful,” said Étienne Thobois, CEO of the Paris 2024 organizing committee. “The Games adapt to the city, not the other way around.”

France has also adapted existing venues and created temporary spaces that highlight the country’s landmarks. Athletes will play beach volleyball under the Eiffel Tower, fence at the Grand Palais and take part in equestrian events in the gardens of Versailles.

“No white elephant,” Thobois said. “Everyone is aware that the costs of the Games have to be kept under control.”

This strategy kept the expected costs of the Paris Olympics significantly lower than those of the last three Summer Games: Tokyo, Rio and London.

And yet, like previous Olympics, Paris 2024 is proving to be more expensive than expected when the city applied to host the Games. Economists say the benefits of hosting the Games are still uncertain.

“Paris is taking a step in the right direction,” said Alexander Budzier of the University of Oxford, who has studied Olympic cost trends.

“Those questions still remain about the Olympics: Is it really worth the money?” he said. “The idea that you can really make the Games cheap by reusing or adapting venues? That’s not really what we’re seeing at the moment.”

According to the latest estimates, the budget for the Paris Olympic and Paralympic Games for facilities and operations is $8.9 million. billion euros, or about $9.7 billion.

That would make these Olympic Games a success cheaper than London ($16.8 billion), Rio ($23.6 billion) and Tokyo (more than $13.7 billion), according to a study co-authored by Budzier.

But Paris has not broken the trend of budget overruns and is not exceptionally cheap, he said.

According to organizers, inflation is largely responsible for the price increase since the city’s successful bid seven years ago, when the budget was estimated at 6.8 billion euros.

Security and staffing costs could drive up the price of these Olympics. At this particularly tense global moment, France is deploying 45,000 police and soldiers and 50,000 private contractors to secure the Games in the Paris region. And to prevent strikes by government workers, France has agreed to offer bonuses and other incentives.

Not included in the Olympics budget: 1.4 billion euros ($1.5 billion) to clean the Seine River enough to swim in and about 3.5 billion euros ($3.8 billion) to extend Metro Line 14 for the Games. Officials have said these were projects they were still planning to implement and were included in other budgets.

Even as Paris struggles to shake its reputation for overspending on the Olympics, officials say the Games will not saddle taxpayers with the debt burdens that plague many other host cities.

The organizers have indicated that the amount to be raised from public funds is 3 billion euros. That would be 0.1 percent of France’s gross domestic product.

The head of France’s national accountant said the cost to taxpayers will not be fully known until after the Games and could be between 3 and 5 billion euros.

Although credit rating agency S&P recently downgraded France over concerns about the overall debt-to-GDP ratio, S&P analyst Hugo Soubrier said the Games “should not have a significant impact on France’s public finances.”

A major problem at previous Olympic Games has built projects that went way over budget, with host cities having to cover the overruns. But less construction in Paris meant less risk of overruns.

Officials stress that the tax money is intended for infrastructure that can continue to benefit the Paris region after the Olympic Games, while the operational part of the budget is almost entirely privately financed.

The International Olympic Committee (IOC), which gets money from big sponsorship deals and broadcasting rights, is contributing 1.2 billion euros ($1.31 billion) to the Paris organizing committee. Paris 2024 can also claim revenue from ticket sales, licensing and domestic sponsorships, while the French government can claim tax windfalls from hotels and other tourism spending.

Thobois said his organizing committee is on track to “not spend more than we can generate” and that he hopes his strategy will set a new standard.

The IOC proclaims: “Hosting the Olympic Games generates powerful economic benefits.” Economists counter that the benefits have often been disappointing or unclear.

For these Olympics, organizers say there will be 3 euros of “economic impact” for every euro of public money spent. That’s based on a study commissioned by the IOC and Paris 2024, which predicted an economic boost of between 6.7 billion and 11.1 billion euros ($7.27 billion and $12.05 billion) in the Paris region over 17 years – generated by tourism, construction and spending to host the Games.

Organizers in Paris celebrated a record 8.6 million tickets sold this month. But there are signs that tourism may not be living up to expectations. Air France-KLM reported a drop in traffic as travelers appeared to avoid the Olympic crowds and high prices in Paris. Lower-than-expected occupancy has led some hotels to cut their last-minute rates. Meanwhile Shops and restaurants near Olympic venues with tight security are complaining about a drop in business.

“Compared to previous Games, the economic legacy for Paris will be less significant,” S&P estimated. It noted that while the 1992 Olympics “put Barcelona on the world tourism map,” Paris has long been a major tourist destination and “is unlikely to experience the same economic boost.”

In addition to tourism, Paris officials say they have tried to ensure the Olympics benefit local people, especially those in marginalized communities. But they have also been criticized for evicting migrants and homeless people ahead of the Games.

France spent about 1.5 billion euros ($1.63 billion) building the Olympic Village in the poor suburb of Seine-Saint-Denis. After the athletes leave, the plan is to transform it into a mixed-use housing development and an engine for urban renewal.

About 2,050 residents of Seine-Saint-Denis were also hired to help build and prepare Olympic and Paralympic venues, officials said.

“We are aware that our support for these social and solidarity economy companies must not end after the Olympic and Paralympic Games,” said Florentin Letissier, deputy mayor of Paris, in an interview on Tuesday.

Economist Andrew Zimbalist, who has written about the Olympics for years, said the IOC and host cities have long promised to get the Olympics’ finances in order.

“My first reaction is that I’ve heard all this before,” he said.

Still, there is a push for cost-cutting, as the IOC can no longer “convince people that this is the greatest thing that can happen to their city,” he said, “and some lessons have been learned.”

Claire Parker contributed to this report.