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Dropping tourist income may force french government to reduce overly generous entitlement programs such as unemployment benefits. The resulting strikes are just around the corner.
Next year will be election year in France, it will be very interesting the rapid slump of that country into chaos and civil war. resulting from too much Hubris and complacency of the French governing classes for too long.
It will have no effect on that. It's not like tourism is the only income in France.
French economy is very diversified.
Tourism revenues represent 7% of France GDP. A french senior official called it an "industrial disaster". The Paris area alone experienced a decrease of one million visitors for the first six months of this versus last year. There is also the knock-on effect. Hotels, Restaurants, Cafes, Cab Drivers, etc.etc. etc. Good luck.
Tourism revenues represent 7% of France GDP. A french senior official called it an "industrial disaster". The Paris area alone experienced a decrease of one million visitors for the first six months of this versus last year. There is also the knock-on effect. Hotels, Restaurants, Cafes, Cab Drivers, etc.etc. etc. Good luck.
Hotels, Restaurants, Cafes, Cab Drivers, etc.etc. etc are included in tourism revenues.
Note that employments in tourism tend to be low qualified with lower salary than many other sectors, so I would not exaggerate the side effects.
France is not disneyland, it's a big country with a diverse economy. The overwhelming majority of people don't work in tourism related activities. I live in Paris and I know nobody who work in tourism related economy. Paris' economy is very corporate.
Secondly, even with a decrease. The number of foreign tourist did not fall to zero, there is still a lot of them.
Note that 2/3 of tourism revenues in France is local, it comes from French tourists.
French economy grew during the first half of 2016.
At worst, this may slow the economic growth of 2016 but don't believe that the economy of France is doomed because of a decrease of foreign visitor.
Last edited by Minato ku; 08-23-2016 at 03:49 PM..
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