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FRENCH ECONOMIC DIPLOMACY An attractive place to do business • At the heart of the world’s biggest market • A productive and dynamic workforce • Low set-up costs • An innovative economy • Paris, a major financial centre • A dynamic capital • Renowned quality of life Plan • • • • • • • • Economic diplomacy, a priority for France Diplomatic network: the “Economic focus” France: separating facts from fiction: A macroeconomic scenario cautious and realistic Foreign investors in France Innovation Tourism Europe ECONOMIC DIPLOMACY, A PRIORITY FOR FRANCE ECONOMIC DIPLOMACY, A PRIORITY FOR FRANCE DIPLOMATIC NETWORK: THE “ECONOMIC FOCUS” AN ATTRACTIVENESS ACTION PLAN IMPLEMENTED SINCE 2013 • Influence Councils • Creation of Business France FRANCE: SEPARATING FACTS FROM FICTION The European Union: • Largest global economy • > 500 million consumers (Eurostat, 2014) France: • 6th largest global economy, • 2nd largest European market: > 65 million consumers • 4th place in the Fortune Global 500, • Leader in many sectors, including tourism, aeronautics and space, R&D, and luxury A MACROECONOMIC SCENARIO CAUTIOUS AND REALISTIC 3% 2% • Growth should speed up in 2015 • 30% fall in trade deficit in 3 years • Reduction of public deficit: €50 billion saving plan from 2015-2017 1% 0% -1% Impact of these structural reforms on growth (OECD): -2% 2013 2014 France 2015 2016 Germany 2017 Italy 2018 2019 2020 United Kingdom GDP growth forecast, by year (2013-2020) Source: IMF, World Economic Outlook, April 2015 • • +1-2 points of activity in 5 years +3-4 points of activity in 10 years FOREIGN INVESTORS IN FRANCE ONE OF THE WORLD’S LEADING DESTINATIONS FOR FOREIGN INVESTMENT • 4th globally and 2nd in Europe for foreign direct investment (FDI) stocks (UNCTAD, 2014) • 20,000 foreign companies present in France, employing 2 million people (Business France, 2015) • 19 foreign companies per week choose France for new investments (Business France 2015) AN INNOVATIVE ECONOMY • Patent registration: 2nd place in Europe, 6th globally • • Top 100 innovative companies: 3rd globally R&D, engineering, design: 9% rise in foreign investment in 2014 Average R&D expenditure as a % of GDP, 2000-2010 3 2.5 2 1.5 1 0.5 0 Espagne Italie RU Zone euro France Allemagne Etats-Unis A SET OF SCHEMES TO SUPPORT INNOVATION Development of strategic sectors and the digital economy: • €47 billion: future investments programme (PIA) and the French VeryHigh-Speed Broadband Plan Attracting the talents of tomorrow • “French Tech”: €215 million for start-ups and digital companies • “French Tech Ticket”:pack for foreign entrepreneurs TOURISM : AN ATTRACTIVE DESTINATION x • World’s leading destination with 85 million international visitors per year • Objective : welcome 100 million foreign tourists by 2030 • Third global destination in terms of revenue • 1.1 million direct jobs and 1 million indirect jobs • Close to 7.4% of GDP, or 9.1% if indirect income is included EUROPE • Open access to 32 markets EU and EFTA • EU-Third countries: more than 30 free trade agreements • Strenthening the economic governance THANK YOU *** ANY QUESTIONS? *** CONTACTS : BUSINESS FRANCE COFACE