France
is the fourth largest economic power in the world in terms of GDP
and the second largest exporter of services and agricultural products.
Paris and the Ile-de-France region
are responsible for a third of the country’s total GDP.
The Paris region is predominantly a service economy,
followed in importance by commerce, industry, agriculture and construction.
Particular strengths are in telecommunications, pharmaceuticals,
publishing and research, with Paris ranking first in Europe in terms
of research development. Five of the French banks, including Crédit
Agricole, BNP and the Caisse d’Epargne
are among the main commercial banks in Europe.
The excellent transport and telecommunications network, a highly
skilled workforce, quality of life and prestige of Paris
have encouraged companies to locate in the city. Many top international
companies, including IBM, Sony, Hewlett
Packard France, Siemens and Motorola
have a presence in Paris and around forty companies base their international
headquarters here. In total, the French capital has attracted about
2,400 foreign companies and numerous foreign banks.
Paris
rates among the world’s most popular international conference
venues. and has a thousand plus annual conventions include over
300 international conferences and 300 trade shows. Tourism
is vitally important to the city’s economy with 22.5 million
international overnight stays in 2003. Terrorism scares and global
instability have hindered visitor numbers in recent years. Paris
is still one of Europe’s major tourist drawcards, with the
world’s biggest industry still crucial to the city.
The economy in general is currently not in a buoyant state. Both
the capital and the country’s unemployment rates have risen
since 2002. Unemployment towards the end of 2003 was running at
9.1 per cent in Paris and there are said to be nearly 50,000 homeless
people on the streets and in the métro stations. The national
unemployment rate is similar, standing at 9.6 per cent.
The major business districts are located in the 8th around avenue
des Champs-Elysées, 2nd, where the
Bourse (Stock Exchange) is located near to rue de la Banque
in a grand First Empire building and the smart
16th arrondissement. The futuristic business district of La
Défense is home to the huge CNIT exhibition hall
and Elf, Gan and Fiat.
There are a number of Internet cafes dotted around
Paris. Some of the most convenient are located at Access
Academy, 60-62 rue Sainte-André-des-Arts, 6th, Baguenaude
Café, 30 rue de la Grande-Truanderie, 1st and Meilleur
des Mondes, 4 bis, rue Michel-Chasles, 12th. Look out also
for free internet terminals in the major railway stations.
Business Etiquette
A degree of Parisian aggression and plenty of persistence is necessary
when attempting to carry out business in the capital. However, firmness,
not rudeness, is in order. At the first meeting, non-French speakers
should apologise for their lack of linguistic aptitude and respect
the local formality, addressing colleagues with the appropriate
Madame, Monsieur, Professeur or Docteur followed by the surname
and a handshake. Business cards (preferably in French and English)
should be presented. Small talk is an essential part of doing business,
so it is wise to do a quick refresher on French politics and culture
prior to the meeting and not to rush straight to talk of business.
Smart, conservative dress is recommended.
Standard
business hours are Monday to Friday 0830/0900 hrs-1800/1900 hrs.
Lunches may last for two hours or more and it is best for one to
schedule meetings at 1100 hrs or 1500 hrs, unless for lunch itself.
Business lunches, working dinners and breakfast meetings are common.
There has, though, been a move in recent years away from boozy long
lunches towards shorter less indulgent affairs. Whoever fixes the
meeting is expected to settle the bill. Conducting business in August
(during the Parisian exodus to the south) is to be avoided at all
costs. |
