Doing Business in France: What are the Latest Market Trends?
As a country, France is one of the most powerful and financially strong nations in both Europe and the wider world. It boasts an economy in the global top ten and is often considered highly-developed and more modern than many other neighbouring European countries.
Such a strong economy can arguably also stem from France’s location in the heart of the European continent. This allows direct import and export routes to other major EU economies, however there’s also the large coastline offering sea trading routes all over the world. Internally though, France has a variety of industries – some old and some new – that continue to go from strength to strength. So what exactly do these involve?
Major Industries of France
Just a few examples of some of France’s major industries include:
With two leading car manufacturers in Peugeot, Citroen and Renault, one of the biggest industries in France is exporting vehicles all over the world. These respective makes are also the main vehicle brands bought and driven in France itself. In a similar vein, France is home to one of the largest oil and gas companies in Total, which like the above vehicle brands also successfully exports globally.
As a large landmass, it’s unsurprising that France is one of the EU’s leading nations for agricultural exports. Each region offers something different from the wheat in the north, to meat in the west and wines in the south.
One of the largest supermarket chains also has its headquarters in France. Carrefour has over 1,400 locations around the world with the majority of these found in Europe.
In recent years there have also been a large number of tech start-ups in France. This post on Business Insider UK details 17 examples which cover everything from internet streaming, to mobile apps and hardware packages.
There’s also a joint venture between the French and UK governments investing in improving each country’s digital sector to improve overall economic growth in the EU. You can find out more about this here.
Along with agriculture, the French landscapes are also a huge draw for holidaymakers and tourism is another major industry. According to Forbes.com France has ‘at least 82 million foreign tourists per year…is the most visited country in the world and maintains the third largest income in the world form tourism.’
The Future of Business in France?
Based on the current market trends and the financial strength of France overall, it’s quite likely these industries and indeed the overall economic situation will continue to head in a strong and positive direction. Furthermore, according to businessculture.org ‘French leaders are increasingly seeking to tie the future of France to the continued development of the European Union.’ So it will be interesting to see in the coming years just how much of an effect France has on the overall financial situation in the EU should this be the situation.
With such a wealth of opportunities, from a business perspective it would seem that trying to establish work connections with France could be a smart move. Here at TNT we work closely with a number of European nations and have the knowledge and experience you can rely on for safe and secure deliveries to France, as well as import and export services, should you wish for your company to start doing business in France.