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==Economy== {{Main|Economy of Paris}} [[File:La Défense depuis l'Arc de Triomphe Janvier 2023 (cropped).jpg|thumb|[[La Défense]], the largest dedicated business district in Europe, located to the west of Paris<ref name="France.fr">{{cite web |url=https://www.france.fr/en/paris/list/paris-what-to-do-what-to-see |title=La Défense, Europe's largest business district |publisher=France.fr |access-date = 8 January 2013 |url-status=dead |archive-url = https://web.archive.org/web/20130530043643/http://www.france.fr/en/paris-capital-region/la-defense-europes-largest-business-district |archive-date = 30 May 2013}}</ref>]] [[File:Italiens12.jpg|thumb|The [[headquarters]] of [[BNP Paribas]], the largest banking group in Europe, in the [[Boulevard des Italiens]].<ref>{{cite web|url=https://www.statista.com/statistics/269845/largest-banks-in-the-world-by-total-assets/|title=Largest banks worldwide as of December 2021, by assets|date=29 August 2022|website=statista.com|publisher=Statista|access-date=21 March 2023|archive-date=10 August 2019|archive-url=https://web.archive.org/web/20190810163936/https://www.statista.com/statistics/269845/largest-banks-in-the-world-by-total-assets/|url-status=live}}</ref>]] [[File:Hotel de la vaupaliere54.jpg|thumb|[[Axa]] headquarters at Hôtel de La Vaupalière]] [[File:Campus Evergreen.jpg|thumb|The {{lang|fr|[[Crédit Agricole]]|italic=no}} headquarters in [[Montrouge]], south of Paris<ref name=sieges>{{cite web |website=Crédit Agricole |title=De Las Cases à Jean Jaurès : Crédit Agricole S.A. à travers ses sièges |date=2011 |url=https://www.credit-agricole.com/pdfPreview/189647 |access-date=25 July 2023 |archive-date=25 July 2023 |archive-url=https://web.archive.org/web/20230725035725/https://www.credit-agricole.com/pdfPreview/189647 |url-status=live }}</ref>]] The economy of the City of Paris is based largely on services and commerce. Of the 390,480 enterprises in Paris, 80.6 percent are engaged in commerce, transportation, and diverse services, 6.5 percent in construction, and 3.8 percent in industry.<ref>{{cite web |url=http://www.insee.fr/fr/themes/dossier_complet.asp?codgeo=COM-75056 |publisher=INSEE |title=Department of Paris; Complete Dossier |access-date=25 November 2015 |language=fr |archive-url=https://web.archive.org/web/20160307200924/http://www.insee.fr/fr/themes/dossier_complet.asp?codgeo=COM-75056 |archive-date=7 March 2016 |url-status=live}}</ref> The story is similar in the [[Paris Region]] (Île-de-France): 76.7 percent of enterprises are engaged in commerce and services, and 3.4 percent in industry.<ref>{{cite web |url=http://www.insee.fr/fr/themes/dossier_complet.asp?codgeo=REG-11 |publisher=INSEE |title=Île-de-France Region – Complete dossier |access-date=25 November 2015 |language=fr |archive-url=https://web.archive.org/web/20160316053531/http://www.insee.fr/fr/themes/dossier_complet.asp?codgeo=REG-11 |archive-date=16 March 2016 |url-status=live}}</ref> At the 2012 census, 59.5% of jobs in the Paris Region were in market services (12.0% in wholesale and retail trade, 9.7% in professional, scientific, and technical services, 6.5% in information and communication, 6.5% in transportation and warehousing, 5.9% in finance and insurance, 5.8% in administrative and support services, 4.6% in accommodation and food services, and 8.5% in various other market services), 26.9% in non-market services (10.4% in human health and social work activities, 9.6% in public administration and defence, and 6.9% in education), 8.2% in manufacturing and utilities (6.6% in manufacturing and 1.5% in utilities), 5.2% in construction, and 0.2% in agriculture.<ref>{{cite web |url=http://www.insee.fr/fr/themes/tableau_local.asp?ref_id=EMP2&millesime=2012&niveau=3&nivgeo=REG&codgeo=11 |publisher=INSEE |title=EMP2 – Emplois au lieu de travail par sexe, statut et secteur d'activité économique – Région d'Île-de-France (11) |access-date=26 November 2015 |language=fr |archive-url=https://web.archive.org/web/20160101095821/http://www.insee.fr/fr/themes/tableau_local.asp?ref_id=EMP2&millesime=2012&niveau=3&nivgeo=REG&codgeo=11 |archive-date=1 January 2016 |url-status=live}}</ref><ref>{{cite web |url=http://www.insee.fr/fr/methodes/default.asp?page=nomenclatures/agregatnaf2008/agregatnaf2008.htm |publisher=INSEE |title=La nomenclature agrégée – NA, 2008 |access-date = 26 November 2015 |language=fr |archive-url = https://web.archive.org/web/20151219154702/http://www.insee.fr/fr/methodes/default.asp?page=nomenclatures%2Fagregatnaf2008%2Fagregatnaf2008.htm |archive-date = 19 December 2015 |url-status = live}}</ref> The Paris Region had 5.4 million salaried employees in 2010, of whom 2.2 million were concentrated in 39 ''pôles d'emplois'' or business districts. The largest of these, in terms of number of employees, is known in French as the QCA, or ''quartier central des affaires''. In 2010, it was the workplace of 500,000 salaried employees, about 30 percent of the salaried employees in Paris and 10 percent of those in the Île-de-France. The largest sectors of activity in the central business district were finance and insurance (16 percent of employees in the district) and business services (15 percent). The district includes a large concentration of department stores, shopping areas, hotels and restaurants, as well a government offices and ministries.<ref name="INSEE">{{cite web |url=http://www.insee.fr/fr/themes/document.asp?ref_id=20718 |title=En Île-de-France, 39 poles d'emploi structurent l'economie régionale |publisher=INSEE |access-date = 7 December 2015 |archive-url = https://web.archive.org/web/20160101095821/http://www.insee.fr/fr/themes/document.asp?ref_id=20718 |archive-date = 1 January 2016 |url-status = live}}</ref> The second-largest business district in terms of employment is [[La Défense]], just west of the city. In 2010, it was the workplace of 144,600 employees, of whom 38 percent worked in finance and insurance, 16 percent in business support services. Two other important districts, [[Neuilly-sur-Seine]] and [[Levallois-Perret]], are extensions of the Paris business district and of La Défense. Another district, including [[Boulogne-Billancourt]], [[Issy-les-Moulineaux]] and the southern part of the 15th arrondissement, is a centre of activity for the media and information technology.<ref name="INSEE" /> In 2021, the top French companies listed in the [[Fortune Global 500]] all have their headquarters in the Paris Region. Six are in the central business district of the City of Paris, four are close to the city in the [[Hauts-de-Seine]] Department, three are in [[La Défense]] and one is in [[Boulogne-Billancourt]]. Some companies, like [[Société Générale]], have offices in both Paris and La Défense. The Paris Region is France's leading region for economic activity, with a [[Gross domestic product|GDP]] of [[euro|€]]765 billion, of which €253 billion was in Paris city.<ref>{{cite web | url=https://ec.europa.eu/eurostat/databrowser/view/nama_10r_3gdp/default/table | title=Gross domestic product (GDP) at current market prices by NUTS 3 regions | website=ec.europa.eu | access-date=1 January 2024 | archive-date=1 January 2024 | archive-url=https://web.archive.org/web/20240101045308/https://ec.europa.eu/eurostat/databrowser/view/nama_10r_3gdp/default/table | url-status=live }}</ref> In 2021, its GDP ranked first among the metropolitan regions of the EU, and its per-capita GDP PPP was the 8th highest.<ref>{{Cite web |date=21 February 2023 |title=Regional gross domestic product (PPS per inhabitant) by NUTS 2 regions |url=https://ec.europa.eu/eurostat/databrowser/view/TGS00005/default/table?lang=en |access-date=13 June 2023 |website=ec.europa.eu |archive-date=13 June 2023 |archive-url=https://web.archive.org/web/20230613192346/https://ec.europa.eu/eurostat/databrowser/view/TGS00005/default/table?lang=en |url-status=live }}</ref><ref>{{cite web |url=http://www.insee.fr/fr/themes/document.asp?reg_id=20&ref_id=21341#trois |publisher=Insee |title=L'Île-de-France, une des régions les plus riches d'Europe |access-date=11 November 2014 |archive-url=https://web.archive.org/web/20150904011013/http://www.insee.fr/fr/themes/document.asp?reg_id=20&ref_id=21341#trois |archive-date=4 September 2015 |url-status=live}}</ref><ref name="McKinsey">{{cite magazine |url=https://foreignpolicy.com/articles/2012/08/13/the_most_dynamic_cities_of_2025 |title=The Most Dynamic Cities of 2025 |magazine=Foreign Policy |access-date=2 November 2014 |archive-url=https://web.archive.org/web/20120828041241/http://www.foreignpolicy.com/articles/2012/08/13/the_most_dynamic_cities_of_2025 |archive-date=28 August 2012 |url-status=live}}</ref> While the Paris region's population accounted for 18.8 percent of metropolitan France in 2019,<ref name=pop2025/> the Paris region's GDP accounted for 32 percent of metropolitan France's GDP.<ref>{{Cite web |date=15 February 2023 |title=GDP in value (current prices) – Metropolitan France |url=https://www.insee.fr/en/statistiques/serie/010751746 |access-date=13 June 2023 |website=www.insee.fr |archive-date=16 August 2023 |archive-url=https://web.archive.org/web/20230816202919/https://www.insee.fr/en/statistiques/serie/010751746 |url-status=live }}</ref><ref>{{Cite web |date=15 February 2023 |title=GDP in value (current prices) – Île-de-France |url=https://www.insee.fr/en/statistiques/serie/010751748 |access-date=13 June 2023 |website=www.insee.fr |archive-date=16 August 2023 |archive-url=https://web.archive.org/web/20230816222906/https://www.insee.fr/en/statistiques/serie/010751748 |url-status=live }}</ref> The Paris Region economy has gradually shifted from industry to high-value-added service industries ([[Financial services|finance]], IT services) and high-tech manufacturing (electronics, optics, aerospace, etc.).<ref name="INSEE 201210">{{cite web |url=http://www.ile-de-france.gouv.fr/content/download/5429/38877/file/L’industrie%20en%20Ile-de-France%20–%20Principaux%20indicateurs%20régionaux.pdf |title=L'Industrie en Île-de-France, Principaux Indicateurs Régionaux |publisher=INSEE |access-date = 24 November 2014 |archive-url = https://web.archive.org/web/20150223184616/http://www.ile-de-france.gouv.fr/content/download/5429/38877/file/L%E2%80%99industrie%20en%20Ile-de-France%20%E2%80%93%20Principaux%20indicateurs%20r%C3%A9gionaux.pdf |archive-date = 23 February 2015 |url-status = live}}</ref> The Paris region's most intense economic activity through the central [[Hauts-de-Seine]] department and suburban La Défense business district places Paris's economic centre to the west of the city, in a triangle between the {{lang|fr|[[Palais Garnier|Opéra Garnier]]}}, ''La Défense'' and the ''[[Val de Seine]]''.<ref name="INSEE 201210" /> While the Paris economy is dominated by [[Service Sector|services]], and employment in manufacturing sector has declined sharply, the region remains an important manufacturing centre, particularly for aeronautics, automobiles, and "eco" industries.<ref name="INSEE 201210" /> In the 2017 worldwide cost of living survey by the [[Economist Intelligence Unit]], based on a survey made in September 2016, Paris ranked as the seventh most expensive city in the world, and the second most expensive in Europe.<ref>Economist Intelligence Unit Worldwide Cost of Living Survey, based in September 2016 data, retrieved July 2017.</ref> In 2018, Paris was the most expensive city in the world with [[Singapore]] and [[Hong Kong]].<ref>{{cite web |title=Classement.Singapour, Hong Kong, Paris : le trio des villes les plus chères du monde |url=https://www.courrierinternational.com/article/classement-singapour-hong-kong-paris-le-trio-des-villes-les-plus-cheres-du-monde |website=courrierinternational.com |publisher=[[Courrier International]] |date=20 March 2019 |access-date=23 March 2019 |archive-url=https://web.archive.org/web/20190327081301/https://www.courrierinternational.com/article/classement-singapour-hong-kong-paris-le-trio-des-villes-les-plus-cheres-du-monde |archive-date=27 March 2019 |url-status=live}}.</ref> [[Station F]] is a [[business incubator]] for startups, noted as the world's largest startup facility.<ref>{{cite news |last1=Medeiros |first1=João |title=Station F, the world's largest startup campus opens in Paris |url=https://www.wired.co.uk/article/station-f |access-date=21 August 2017 |magazine=Wired |date=29 June 2017 |archive-url=https://web.archive.org/web/20170821085053/http://www.wired.co.uk/article/station-f |archive-date=21 August 2017 |url-status=live}}</ref> ===Employment and income=== [[File:Median income of Paris and inner ring (2018) named.svg|thumb|The median income in Paris and its nearest departments, 2018. High income in red, low income in yellow]] In 2007, the majority of Paris's salaried employees filled 370,000 businesses services jobs, concentrated in the north-western 8th, 16th and 17th arrondissements.<ref name="AlapageINSEE">{{cite press release |url=http://www.insee.fr/fr/insee_regions/idf/themes/alapage/alap288/alapage288.pdf |title=Île-de-France – A la Page Nº288 – INSEE 2007 |date=November 2007 |access-date=24 November 2014 |archive-url=https://web.archive.org/web/20141229014929/http://www.insee.fr/fr/insee_regions/idf/themes/alapage/alap288/alapage288.pdf |archive-date=29 December 2014 |url-status=live}}</ref> Paris's financial service companies are concentrated in the central-western 8th and 9th arrondissement banking and insurance district.<ref name="AlapageINSEE"/> Paris's department store district in the 1st, 6th, 8th and 9th arrondissements employ ten percent of mostly female Paris workers, with 100,000 of these in the retail trade.<ref name="AlapageINSEE"/> Fourteen percent of Parisians worked in hotels and restaurants and other services to individuals.<ref name="AlapageINSEE"/> Nineteen percent of Paris employees work for the State in either administration or education. The majority of Paris's healthcare and social workers work at the hospitals and social housing, concentrated in the peripheral 13th, 14th, 18th, 19th and 20th arrondissements.<ref name="AlapageINSEE"/> Outside Paris, the western Hauts-de-Seine department [[La Défense]] district specialising in finance, insurance and scientific research district, employs 144,600.<ref name="INSEE 201210"/> The north-eastern Seine-Saint-Denis audiovisual sector has 200 media firms and 10 major film studios.<ref name="INSEE 201210"/> Paris's manufacturing is mostly focused in its suburbs. Paris has around 75,000 manufacturing workers, most of which are in the textile, clothing, leather goods, and shoe trades.<ref name="INSEE 201210"/> In 2015, the Paris region's 800 aerospace companies employed 100,000.<ref name="INSEE 201210"/> Four hundred automobile industry companies employ another 100,000 workers. Many of these are centred in the [[Yvelines]] department, around the Renault and PSA-Citroën plants. This department alone employs 33,000.<ref name="INSEE 201210"/> In 2014, the industry as a whole suffered a major loss, with the closing of a major [[Aulnay-sous-Bois]] Citroën assembly plant.<ref name="INSEE 201210"/> The southern [[Essonne]] department specialises in science and technology.<ref name="INSEE 201210"/> The south-eastern [[Val-de-Marne]], with its wholesale [[Marché international de Rungis|Rungis food market]], specialises in food processing and beverages.<ref name="INSEE 201210"/> The Paris region's manufacturing decline is quickly being replaced by eco-industries. These employ about 100,000 workers.<ref name="INSEE 201210"/> Incomes are higher in the Western part of Paris and in the western suburbs, than in the northern and eastern parts of the urban area.<ref name="wealth distribution">{{cite web |title=Structure et distribution des revenus, inégalité des niveaux de vie en 2013 |url=https://www.insee.fr/fr/statistiques/2388413 |website=insee.fr |access-date=4 April 2017 |archive-url=https://web.archive.org/web/20170620170141/https://www.insee.fr/fr/statistiques/2388413 |archive-date=20 June 2017 |url-status=live}}</ref> While Paris has some of the richest neighbourhoods in France, it also has some of the poorest, mostly on the eastern side of the city. In 2012, 14 percent of households in Paris earned less than €977 per month, the official [[poverty line]]. Twenty-five percent of residents in the 19th arrondissement lived below the poverty line. In Paris' wealthiest neighbourhood, the 7th arrondissement, 7 percent lived below the poverty line.<ref>{{cite web |url=http://www.metronews.fr/paris/des-quartiers-de-paris-compteraient-plus-de-40-de-pauvres/mnaB!OVs3O27zkRe6/ |archive-url = https://web.archive.org/web/20140406124836/http://www.metronews.fr/paris/des-quartiers-de-paris-compteraient-plus-de-40-de-pauvres/mnaB!OVs3O27zkRe6/ |archive-date=6 April 2014 |title=Neighborhoods of Paris with more than 40 percent living below poverty line |publisher=Metronews |language=fr |access-date=28 November 2013}}{{cbignore|bot=medic}}</ref> The unemployment rate in Paris in the 4th trimester of 2021 was six percent, compared with 7.4 percent in the whole of France. This was the lowest rate in thirteen years.<ref>Reuters, "France unemployment hits 13-year low", 18 February 2022</ref><ref>INSEE data published 1 April 2022</ref> ===Tourism=== {{Main|Tourism in Paris}} {{Further|Landmarks in Paris|Historical quarters of Paris|List of tourist attractions in Paris}} [[File:Visiter_le_Louvre_en_été_!_(4787187477).jpg|thumb|upright=0.75|The [[Louvre]], the [[List of most-visited art museums|most-visited art museum in the world]]]] As of 2024, Paris was considered the most attractive city in the world 4 years in a row, by the [[Euromonitor]] Global Cities Destination Index. However, by the number of tourists coming from other countries it was only in the 9th place.<ref>{{cite web |title=Euromonitor International reveals world’s Top 100 City Destinations for 2024 |url=https://www.euromonitor.com/press/press-releases/december-2024/euromonitor-international-reveals-worlds-top-100-city-destinations-for-2024 |website=Euromonitor International |access-date=4 April 2025}}</ref> Tourism continued to recover in the Paris region in 2022, increasing to 44 million visitors, an increase of 95 percent over 2021, but still 13 percent lower than in 2019.<ref name="pro.visitparisregion.com">{{cite web|url=https://pro.visitparisregion.com/chiffres-du-tourisme/conjoncture/bilans/bilan-de-l-annee-touristique-2022-a-paris-ile-de-france-mars-2023 |title=Bilan de l'année touristique 2022 à Paris Île-de-France (mars 2023) |trans-title=Review of the 2022 tourist year in Paris Île-de-France (March 2023) |website=pro.visitparisregion.com |archive-url=https://web.archive.org/web/20230325170709/https://pro.visitparisregion.com/chiffres-du-tourisme/conjoncture/bilans/bilan-de-l-annee-touristique-2022-a-paris-ile-de-france-mars-2023|archive-date=25 March 2023 |url-status=live |date=20 March 2023}}</ref> [[Grand Paris|Greater Paris]], comprising Paris and its three surrounding departments, received a record 38 million visitors in 2019, measured by hotel arrivals.<ref name=KeyFigures>{{cite web |url=https://press.parisinfo.com/key-figures |title=Tourism in Paris – Key Figures 2020 |publisher=Paris Convention and Visitors Bureau |website=press.parisinfo.com |access-date=10 September 2021 |archive-date=10 September 2021 |archive-url=https://web.archive.org/web/20210910112723/https://press.parisinfo.com/key-figures |url-status=dead}}</ref> These included 12.2 million French visitors. Of the foreign visitors, the greatest number came from the United States (2.6 million), United Kingdom (1.2 million), Germany (981 thousand) and China (711 thousand).<ref name=KeyFigures/> In 2018, measured by the [[Euromonitor]] Global Cities Destination Index, Paris was the second-busiest airline destination in the world, with 19.10 million visitors, behind Bangkok (22.78 million) but ahead of London (19.09 million).<ref>{{cite web |last=Rosen |first=Eric |title=The World's Most-Visited City Is Bangkok |url=https://www.forbes.com/sites/ericrosen/2019/09/04/the-worlds-most-visited-city-is-bangkok/ |work=[[Forbes]] |date=4 September 2019 |access-date=21 September 2019 |archive-url=https://web.archive.org/web/20190914054101/https://www.forbes.com/sites/ericrosen/2019/09/04/the-worlds-most-visited-city-is-bangkok/ |archive-date=14 September 2019 |url-status=live}}</ref> In 2016, 393,008 workers in Greater Paris, or 12.4 percent of the total workforce, were engaged in tourism-related sectors such as hotels, catering, transport and leisure.<ref name=TIP2016/> Paris' top cultural attractions in 2022 were the [[Louvre Museum]] (7.7 million visitors), the [[Eiffel Tower]] (5.8 million visitors), the [[Musée d'Orsay]] (3.27 million visitors) and the [[Centre Pompidou]] (3 million visitors).<ref name="pro.visitparisregion.com" /> In 2019, Greater Paris had 2,056 hotels, including 94 five-star hotels, with a total of 121,646 rooms.<ref name=KeyFigures/> In 2019, in addition to the hotels, Greater Paris had 60,000 homes registered with [[Airbnb]].<ref name=KeyFigures/> Under French law, renters of these units must pay the Paris tourism tax. The company paid the city government 7.3 million euros in 2016.<ref>{{Cite news |last=Vidalon |first=Dominique |date=2017-07-05 |title=hoteliers-welcome-paris-decision-forcing-airbnb-hosts-to-register-rentals-idUSL8N1JW2DD |url=https://www.reuters.com/article/business/hoteliers-welcome-paris-decision-forcing-airbnb-hosts-to-register-rentals-idUSL8N1JW2DD/ |work=Reuters}}</ref><ref>Fortune Magazine, 5 July 2017.</ref>{{Full citation needed|date=November 2023}} A minuscule fraction of foreign visitors suffer from [[Paris syndrome]], when their experiences do not meet expectations.<ref>{{cite news|url = http://news.bbc.co.uk/2/hi/6197921.stm|title = 'Paris Syndrome' strikes Japanese|work = [[BBC News]]|access-date = 4 November 2009|last = Wyatt|first = Caroline|date = 20 December 2006|archive-date = 31 October 2009|archive-url = https://web.archive.org/web/20091031110724/http://news.bbc.co.uk/2/hi/6197921.stm|url-status = live}}</ref>
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