The Eiffel Tower, one of the world’s most-visited monuments, now faces soaring maintenance costs, leading to a recent increase in ticket prices. As of June 17, adults must pay over €35 to access the top of the iconic structure, a 20 per cent rise from the previous fare of €29.10.
The Société d’Exploitation de la Tour Eiffel (SETE), the public company operating the landmark, aims to use the additional revenue to rebalance its finances, which were severely impacted by the COVID-19 pandemic. The pandemic-induced closures led to a drastic drop in revenue, from €99 million in 2019 to just €25 million in 2020, resulting in a cumulative shortfall of €113 million from 2020 to 2022.
In addition to pandemic losses, the Eiffel Tower’s maintenance costs have surged, with expenses exceeding €130 million. Delays in essential maintenance, including the 20th repainting operation originally scheduled to begin in 2020, have further inflated costs. This repainting, crucial for preserving the metal structure, has been delayed due to the discovery of lead in previous paint layers, necessitating large-scale stripping before the new paint could be applied. The project, aimed to be completed in time for the 2024 Paris Olympics, is now four years behind schedule.
Moreover, the licence fee that SETE pays to the city of Paris for operating the Eiffel Tower has significantly increased, rising from €8 million in 2021 to a projected €50 million by 2025. This increase has been criticised by SETE’s unions and French Culture Minister Rachida Dati, who accused Paris Mayor Anne Hidalgo of financially burdening the Eiffel Tower. The city, however, argues that the licence fee includes a variable component based on revenue and has been reduced compared to what was initially agreed upon, representing €50 million in foregone revenue until 2031.
In response to financial challenges and a recent strike by Eiffel Tower employees demanding a viable economic model, the Paris City Council approved a 20 per cent increase in ticket prices and a €15-million financial boost for SETE on May 24. The council had also previously approved a €60-million recapitalisation for SETE in July 2021 to mitigate the effects of the pandemic. These measures, along with an additional €156 million investment in maintenance, aim to restore financial stability by 2025 and complete the repainting project.
In 2023, the Eiffel Tower welcomed 6.3 million visitors, the highest number since 2015, demonstrating its enduring appeal despite the challenges. With these new financial measures and ongoing maintenance efforts, SETE hopes to preserve and enhance the Iron Lady, ensuring she remains a beloved global icon for years to come
, the public company operating the landmark, aims to use the additional revenue to rebalance its finances, which were severely impacted by the COVID-19 pandemic. The pandemic-induced closures led to a drastic drop in revenue, from €99 million in 2019 to just €25 million in 2020, resulting in a cumulative shortfall of €113 million from 2020 to 2022.){kind=link}