Economy of Paris
Encyclopedia
Île-de-France (région)
Île-de-France is the wealthiest and most populated of the twenty-two administrative regions of France, composed mostly of the Paris metropolitan area....
as calculated by INSEE
INSEE
INSEE is the French National Institute for Statistics and Economic Studies. It collects and publishes information on the French economy and society, carrying out the periodic national census. Located in Paris, it is the French branch of Eurostat, European Statistical System...
was US$731.3 billion at market exchange rates. If it were a country, in 2007, the Paris Region would be the 17th largest economy in the world, with an economy nearly as large as that of the Netherlands. In 2009, an Internet survey also rated Paris as one of the world's most expensive cities in which to purchase goods and services.
Although in terms of population the urban area
Pôle urbain
In France, a pôle urbain is a statistical area defined by INSEE for the measurement of contiguously built-up areas...
of Paris is only approximately the 20th largest urban area in the world, its GDP is the fiftht-largest in the world, equally with London, and after the urban areas of Tokyo, New York, Los Angeles, Chicago
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
.
The Paris economy is extremely diverse and has not yet adopted a specialization inside the global economy (unlike Los Angeles with the entertainment industry, or London and New York with financial services). Today it is essentially a service economy, with business and financial services generating nearly half of the Paris Region's GDP. Its manufacturing base has declined since its pre-1970s heyday, generating now less than 10% of the region's GDP, even though the Paris Region still remains one of the manufacturing powerhouses of Europe due to the sheer size of its economy, with a shift from traditional to high-tech manufacturing.
Paris GDP
Economically speaking, the agglomeration of Paris is among the largest economic centers in the world, with the fifth-largest gross metropolitan productGross metropolitan product
Gross Metropolitan Product or Gross Regional Product is one of several measures of the size of the economy of a metropolitan area...
in the world in 2005 according to a study by PricewaterhouseCoopers
PricewaterhouseCoopers
PricewaterhouseCoopers is a global professional services firm headquartered in London, United Kingdom. It is the world's largest professional services firm measured by revenues and one of the "Big Four" accountancy firms....
whose main results are shown in the table below.
| Urban agglomerations | 2005 GDP (in billion US$) (at purchasing power parity) |
|---|---|
01- Tokyo | 1,191 |
02- New York | 1,133 |
03- Los Angeles | 639 |
04- Chicago | 460 |
05- Paris | 460 |
06- London | 452 |
07- Osaka-Kobe | 341 |
08- Mexico City | 315 |
09- Philadelphia | 312 |
10- Washington | 299 |
Year in, year out, the Paris Region
Île-de-France (région)
Île-de-France is the wealthiest and most populated of the twenty-two administrative regions of France, composed mostly of the Paris metropolitan area....
accounts for 28 to 29% of the total GDP of metropolitan France
Metropolitan France
Metropolitan France is the part of France located in Europe. It can also be described as mainland France or as the French mainland and the island of Corsica...
, although its 2007 population is only 18.8% of the total population of metropolitan France. According to Eurostat
Eurostat
Eurostat is a Directorate-General of the European Commission located in Luxembourg. Its main responsibilities are to provide the European Union with statistical information at European level and to promote the integration of statistical methods across the Member States of the European Union,...
, the GDP of the Paris Region accounted alone for 4.4% of the total GDP of the European Union (of 27 members) in the year 2005, although its population is only 2.3% of the total population of the EU27.
Fortune Global 500 companies
As of 2008, the City of Paris hosts the world headquarters of twenty-five Fortune Global 500Fortune Global 500
The Fortune Global 500 is a ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by Fortune magazine....
companies (the 500 largest corporations in the world by revenue
Revenue
In business, revenue is income that a company receives from its normal business activities, usually from the sale of goods and services to customers. In many countries, such as the United Kingdom, revenue is referred to as turnover....
, ranked every year by Fortune
Fortune (magazine)
Fortune is a global business magazine published by Time Inc. Founded by Henry Luce in 1930, the publishing business, consisting of Time, Life, Fortune, and Sports Illustrated, grew to become Time Warner. In turn, AOL grew as it acquired Time Warner in 2000 when Time Warner was the world's largest...
magazine) with a combined revenue of 1,420 billion US dollars in the fiscal year 2007-2008. This is more Fortune Global 500 companies and a larger combined revenue than any city in the world except Tokyo as shown in the table below.
| Rank | City | Country | Number of Global 500 companies | Global 500 revenues ($ millions, FY 07-08) |
|---|---|---|---|---|
| 1 | Tokyo | Japan | 47 | 1,858,608 |
| 2 | Paris | France | 38 | 1,419,933 |
| 3 | London | United Kingdom | 22 | 1,183,769 |
| 4 | Beijing | China | 21 | 943,768 |
| 5 | New York | United States | 20 | 1,166,469 |
| 6 | Seoul Seoul Seoul , officially the Seoul Special City, is the capital and largest metropolis of South Korea. A megacity with a population of over 10 million, it is the largest city proper in the OECD developed world... |
South Korea | 13 | 576,919 |
| 7 | Toronto Toronto Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from... |
Canada | 9 | 229,308 |
| 8 | Madrid Madrid Madrid is the capital and largest city of Spain. The population of the city is roughly 3.3 million and the entire population of the Madrid metropolitan area is calculated to be 6.271 million. It is the third largest city in the European Union, after London and Berlin, and its metropolitan... |
Spain | 8 | 357,927 |
| 9 | Munich Munich Munich The city's motto is "" . Before 2006, it was "Weltstadt mit Herz" . Its native name, , is derived from the Old High German Munichen, meaning "by the monks' place". The city's name derives from the monks of the Benedictine order who founded the city; hence the monk depicted on the city's coat... |
Germany | 7 | 455,821 |
| 9 | Zurich Zürich Zurich is the largest city in Switzerland and the capital of the canton of Zurich. It is located in central Switzerland at the northwestern tip of Lake Zurich... |
Switzerland | 7 | 354,657 |
| 9 | Osaka Osaka is a city in the Kansai region of Japan's main island of Honshu, a designated city under the Local Autonomy Law, the capital city of Osaka Prefecture and also the biggest part of Keihanshin area, which is represented by three major cities of Japan, Kyoto, Osaka and Kobe... |
Japan | 7 | 267,296 |
| 10 | Houston | United States | 6 | 344,028 |
Twelve Fortune Global 500 companies are also headquartered in the inner and outer suburbs of Paris, notably in the business district of La Défense
La Défense
La Défense is a major business district of the Paris aire urbaine. With a population of 20,000, it is centered in an orbital motorway straddling the Hauts-de-Seine département municipalities of Nanterre, Courbevoie and Puteaux...
, thus giving a total of thirty-seven Fortune Global 500 companies whose world headquartered are located within the Paris Region
Île-de-France (région)
Île-de-France is the wealthiest and most populated of the twenty-two administrative regions of France, composed mostly of the Paris metropolitan area....
. Here is a list of these thirty-seven companies:
| Local rank | FG 500 rank | Company name | Industry | Revenues ($ millions, FY 07-08) | Location |
|---|---|---|---|---|---|
| 1 | 8 | Total Total S.A. Total S.A. is a French multinational oil company and one of the six "Supermajor" oil companies in the world.Its businesses cover the entire oil and gas chain, from crude oil and natural gas exploration and production to power generation, transportation, refining, petroleum product marketing, and... |
Petroleum Refining | 187,280 | La Défense La Défense La Défense is a major business district of the Paris aire urbaine. With a population of 20,000, it is centered in an orbital motorway straddling the Hauts-de-Seine département municipalities of Nanterre, Courbevoie and Puteaux... |
| 2 | 15 | AXA AXA AXA S.A. is a French global insurance group headquartered in the 8th arrondissement of Paris. AXA is a conglomerate of independently run businesses, operated according to the laws and regulations of many different countries. The AXA group of companies engage in life, health and other forms of... |
Insurance: Life, Health (stock) | 162,762 | 8th arrondissement VIIIe arrondissement The 8th arrondissement of Paris is one of the 20 arrondissements of the capital city of France.Situated on the right bank of the River Seine and centred on the Opéra, the 8th is, together with the 1st and 9th arrondissements and 16th arrondissement and 17th arrondissement, one of Paris's main... |
| 3 | 21 | BNP Paribas BNP Paribas BNP Paribas S.A. is a global banking group, headquartered in Paris, with its second global headquarters in London. In October 2010 BNP Paribas was ranked by Bloomberg and Forbes as the largest bank and largest company in the world by assets with over $3.1 trillion. It was formed through the merger... |
Banks: Commercial and Savings | 140,727 | 9th arrondissement IXe arrondissement The 9th arrondissement , located on the Right Bank, is one of the 20 arrondissements of Paris, France. It contains many places of cultural, historical, and architectural interest, including the Palais Garnier, home to the Paris Opera, Boulevard Haussmann and its large department stores of Galeries... |
| 4 | 23 | Crédit Agricole Crédit Agricole Crédit Agricole S.A. is the largest retail banking group in France, second largest in Europe and the eighth largest in the world by Tier 1 capital according to The Banker magazine. It is also part of the CAC 40 stock market index.... |
Banks: Commercial and Savings | 138,155 | 15th arrondissement XVe arrondissement The 15th arrondissement of Paris is one of the 20 arrondissements of the capital city of France.Situated on the Rive Gauche of the River Seine and sharing the Montparnasse district with the 6th and 14th arrondissements, it is the city's most populous arrondissement... |
| 5 | 33 | Carrefour Carrefour Carrefour S.A. is an international hypermarket chain headquartered in Levallois-Perret, France. It is one of the largest hypermarket chains in the world... |
Food and Drug Stores | 115,585 | Levallois-Perret Levallois-Perret Levallois-Perret is a commune in the northwestern suburbs of Paris, France. It is located from the centre of Paris.-Name:The name Levallois-Perret comes from two housing developments, Champerret and Village Levallois , and which resulted in the incorporation of the... |
| 6 | 43 | Société Générale Société Générale Société Générale S.A. is a large European Bank and a major Financial Services company that has a substantial global presence. Its registered office is on Boulevard Haussmann in the 9th arrondissement of Paris, while its head office is in the Tours Société Générale in the business district of La... |
Banks: Commercial and Savings | 103,443 | 9th arrondissement |
| 7 | 66 | Peugeot Peugeot Peugeot is a major French car brand, part of PSA Peugeot Citroën, the second largest carmaker based in Europe.The family business that precedes the current Peugeot company was founded in 1810, and manufactured coffee mills and bicycles. On 20 November 1858, Emile Peugeot applied for the lion... |
Motor vehicles and Parts | 82,965 | 16th arrondissement XVIe arrondissement The 16th arrondissement of Paris is one of the 20 arrondissements of Paris, the capital city of France... |
| 8 | 68 | EDF Électricité de France Électricité de France S.A. is the second largest French utility company. Headquartered in Paris, France, with €65.2 billion in revenues in 2010, EDF operates a diverse portfolio of 120,000+ megawatts of generation capacity in Europe, Latin America, Asia, the Middle East and Africa.EDF is one of... |
Utilities (electricity) | 81,629 | 8th arrondissement |
| 9 | 84 | France Télécom France Télécom France Telecom S.A. is the main telecommunications company in France, the third-largest in Europe and one of the largest in the world. It currently employs about 180,000 people and has 192.7 million customers worldwide . In 2010 the group had revenue of €45.5 billion... |
Telecommunications | 72,488 | 15th arrondissement |
| 10 | 97 | Suez | Energy | 64,983 | 8th arrondissement |
| 11 | 110 | Saint-Gobain Saint-Gobain Saint-Gobain S.A. is a French multinational corporation, founded in 1665 in Paris and headquartered on the outskirts of Paris at La Défense and in Courbevoie. Originally a mirror manufacturer, it now also produces a variety of construction and high-performance materials.The company has its head... |
Building materials, Glass | 59,433 | La Défense La Défense La Défense is a major business district of the Paris aire urbaine. With a population of 20,000, it is centered in an orbital motorway straddling the Hauts-de-Seine département municipalities of Nanterre, Courbevoie and Puteaux... |
| 12 | 112 | CNP Assurances CNP Assurances CNP Assurances S.A. is a major French insurance corporation. CNP stands for Caisse Nationale de Prévoyance. It is listed on the Fortune Global 500. The company was formed in 1959 as a subsidiary of Caisse des dépôts et consignations, which continues to hold approximately 40% of the company.... |
Insurance: Life, Health (stock) | 59,071 | 15th arrondissement |
| 13 | 119 | Renault Renault Renault S.A. is a French automaker producing cars, vans, and in the past, autorail vehicles, trucks, tractors, vans and also buses/coaches. Its alliance with Nissan makes it the world's third largest automaker... |
Motor vehicles and Parts | 55,684 | Boulogne-Billancourt Boulogne-Billancourt Boulogne-Billancourt is a commune in the western suburbs of Paris, France. It is located from the centre of Paris. Boulogne-Billancourt is a sub-prefecture of the Hauts-de-Seine department and the seat of the Arrondissement of Boulogne-Billancourt.... |
| 14 | 124 | Groupe Caisse d'Epargne Groupe Caisse d'Epargne Groupe Caisse d'Epargne is a French semi-cooperative banking group, founded in 1818, with around 4700 branches in the country. The group is active in retail and private banking, as well as holding a significant stake in the publicly traded investment bank Natixis.-Operations:The group's most... |
Banks: Commercial and Savings | 53,992 | 13th arrondissement XIIIe arrondissement The 13th arrondissement of Paris is one of the 20 arrondissements of the capital city of France.... |
| 15 | 153 | Veolia Environnement | Utilities | 44,750 | 16th arrondissement |
| 16 | 169 | Vinci | Engineering, Construction | 41,969 | Rueil-Malmaison Rueil-Malmaison Rueil-Malmaison is a commune in the western suburbs of Paris, in the Hauts-de-Seine department of France. It is located 12.6 kilometers from the center of Paris.-Name:... |
| 17 | 172 | Bouygues Bouygues Bouygues S.A. is a French industrial group headquartered in the 8th arrondissement of Paris, France. Bouygues is listed on Euronext Paris exchange and is a blue chip in the CAC 40 stock market index. The company was founded in 1952 by Francis Bouygues and since 1989 has been led by his son Martin... |
Engineering, Construction | 40,721 | 8th arrondissement |
| 18 | 178 | Sanofi-Aventis Sanofi-Aventis Sanofi S.A. is a multinational pharmaceutical company headquartered in Paris, France, the world's fourth-largest by prescription sales. Sanofi engages in the research and development, manufacturing and marketing of pharmaceutical products for sale principally in the prescription market, but the... |
Pharmaceuticals | 39,977 | 13th arrondissement |
| 19 | 193 | GDF Gaz de France Gaz de France was a French company which produced, transported and sold natural gas around the world, especially in France, its main market. The company was also particularly active in Belgium, the United Kingdom, Germany, and other European countries. Through its part-owned Belgian subsidiary SPE... |
Utilities (natural gas) | 37,541 | 17th arrondissement XVIIe arrondissement The 17th arrondissement of Paris is one of the 20 arrondissements of the capital city of France.-Geography:The land area of this arrondissement is 5.669 km2 The 17th arrondissement of Paris is one of the 20 arrondissements (administrative districts) of the capital city of... |
| 20 | 205 | Foncière Euris | General Merchandisers, Commercial Real Estate | 36,115 | 8th arrondissement |
| 21 | 222 | Air France-KLM Air France-KLM Air France-KLM is a European airline holding company incorporated under French law with its headquarters at Paris-Charles de Gaulle Airport in Tremblay-en-France, Paris... |
Airlines | 34,130 | Paris CDG Airport Charles de Gaulle International Airport Paris-Charles de Gaulle Airport , also known as Roissy Airport , in the Paris area, is one of the world's principal aviation centres, as well as France's largest airport. It is named after Charles de Gaulle , leader of the Free French Forces and founder of the French Fifth Republic... |
| 22 | 233 | SNCF SNCF The SNCF , is France's national state-owned railway company. SNCF operates the country's national rail services, including the TGV, France's high-speed rail network... |
Railroads | 32,427 | 14th arrondissement XIVe arrondissement The 14th arrondissement of Paris is one of the 20 arrondissements of the capital city of France.... |
| 23 | 239 | La Poste La Poste (France) La Poste is the mail service of France, which also operates postal services in the French Overseas Departments of Réunion, Guadeloupe, Martinique and French Guiana, and the territorial collectivities of Saint Pierre and Miquelon and Mayotte... |
Mail, Package, Freight Delivery | 31,947 | 15th arrondissement |
| 24 | 264 | Vivendi Vivendi Vivendi SA is a French international media conglomerate with activities in music, television and film, publishing, telecommunications, the Internet, and video games. It is headquartered in Paris.- History :... |
Telecommunications, Entertainment | 29,643 | 8th arrondissement |
| 25 | 284 | PPR PPR (company) PPR is a French multinational holding company specializing in retail shops and luxury brands. The company was founded in 1963 by the businessman François Pinault and is now run by his son François-Henri Pinault. It is quoted on Euronext Paris and is a constituent of the CAC 40 index... |
General Merchandisers (luxury goods) | 28,107 | 16th arrondissement |
| 26 | 314 | Groupama Groupama Groupama contraction of GROUPe des Assurances Mutuelles Agricoles is an international insurance group based in Paris, France... |
Insurance: P&C (mutual) | 25,811 | 8th arrondissement |
| 27 | 325 | Alcatel-Lucent Alcatel-Lucent Alcatel-Lucent is a global telecommunications corporation, headquartered in the 7th arrondissement of Paris, France. It provides telecommunications solutions to service providers, enterprises, and governments around the world, enabling these customers to deliver voice, data, and video services... |
Network and Other Communications Equipment | 24,645 | 8th arrondissement |
| 28 | 333 | Lafarge Lafarge Lafarge is a French industrial company specialising in four major products: cement, construction aggregates, concrete and gypsum wallboard. In 2010 the company was the world's second-largest cement manufacturer by mass shipped behind Holcim.-History:... |
Building materials, Glass | 24,109 | 16th arrondissement |
| 29 | 338 | Alstom Alstom Alstom is a large multinational conglomerate which holds interests in the power generation and transport markets. According to the company website, in the years 2010-2011 Alstom had annual sales of over €20.9 billion, and employed more than 85,000 people in 70 countries. Alstom's headquarters are... |
Industrial Equipment (power generation, trains) | 23,927 | Levallois-Perret Levallois-Perret Levallois-Perret is a commune in the northwestern suburbs of Paris, France. It is located from the centre of Paris.-Name:The name Levallois-Perret comes from two housing developments, Champerret and Village Levallois , and which resulted in the incorporation of the... |
| 30 | 342 | Schneider Electric Schneider Electric Schneider Electric is a French global company. It was founded in 1836 by two brothers, Eugène and Adolphe Schneider.In the first part of the 20th century, Schneider et Cie associated itself with Westinghouse Systems, a major international electrical group at the time. The group began manufacturing... |
Electronics, Electrical Equipment | 23,691 | Rueil-Malmaison Rueil-Malmaison Rueil-Malmaison is a commune in the western suburbs of Paris, in the Hauts-de-Seine department of France. It is located 12.6 kilometers from the center of Paris.-Name:... |
| 31 | 346 | Christian Dior Christian Dior SA Christian Dior S.A. is a French company which owns the high-fashion clothing producer and retailer Christian Dior Couture, as well as holding 42% of LVMH Moët Hennessy • Louis Vuitton, the world's largest luxury goods firm. Both Dior and LVMH are controlled and chaired by businessman Bernard... |
Apparel | 23,604 | 8th arrondissement |
| 32 | 355 | L'Oréal L'Oréal The L'Oréal Group is the world's largest cosmetics and beauty company. With its registered office in Paris and head office in the Paris suburb of Clichy, Hauts-de-Seine, France, it has developed activities in the field of cosmetics... |
Household and Personal Products | 23,355 | Clichy Clichy, Hauts-de-Seine -Administration:The canton covers a part of the commune; the other is in the northern part of Levallois-Perret-Twinnings: Heidenheim, Germany, since 1959 Sankt Pölten, Austria, since 1968 Santo Tirso, Portugal, since 1991 Rubí, Spain, since 2005 Southwark, United Kingdom, since 2005Clichy has also... |
| 33 | 421 | CIC Crédit Industriel et Commercial Crédit Industriel et Commercial is a financial services group in France, founded in 1859 With its parent-company, Crédit Mutuel it is the fourth largest bank in the country... |
Banks: Commercial and Savings | 20,193 | 9th arrondissement |
| 34 | 423 | Groupe Danone Groupe Danone Groupe Danone is a French food-products multinational corporation based in the 9th arrondissement of Paris. It claims world leadership in fresh dairy products, marketed under the corporate name, and also in bottled water... |
Food Consumer Products | 20,128 | 9th arrondissement |
| 35 | 473 | Sodexo | Food Services | 17,673 | Issy-les-Moulineaux Issy-les-Moulineaux Issy-les-Moulineaux is a commune in the southwestern suburban area of Paris, France. It is located from the centre of Paris. On 1 January 2003, Issy-les-Moulineaux became part of the Communauté d'agglomération Arc de Seine along with the other communes of Chaville, Meudon, Vanves and Ville-d'Avray... |
| 36 | 488 | Eiffage Eiffage -History:The company was formed in 1992 through the merger of several companies: Fougerolle , Quillery , Beugnet , and La Societe Auxiliaire d' Enterprises Electriques et de Travaux Public, better known as SAE .-Major projects:Recent projects have included the Channel Tunnel completed in 1994, the... |
Engineering, Construction | 17,241 | Asnières-sur-Seine Asnières-sur-Seine Asnières-sur-Seine is a commune in the northwestern suburbs of Paris, France, along the river Seine. It is located from the center of Paris.-Name:... |
| 37 | 498 | Thales Group Thales Group The Thales Group is a French electronics company delivering information systems and services for the aerospace, defense, transportation and security markets... |
Aerospace and Defense | 16,830 | Neuilly-sur-Seine Neuilly-sur-Seine Neuilly-sur-Seine is a commune in the western suburbs of Paris, France. It is located from the center of Paris.Although Neuilly is technically a suburb of Paris, it is immediately adjacent to the city and directly extends it. The area is composed of mostly wealthy, select residential... |
| Note: The Franco-German aerospace company EADS EADS The European Aeronautic Defence and Space Company N.V. is a global pan-European aerospace and defence corporation and a leading defence and military contractor worldwide... has its dual world headquarters in Paris and Munich Munich Munich The city's motto is "" . Before 2006, it was "Weltstadt mit Herz" . Its native name, , is derived from the Old High German Munichen, meaning "by the monks' place". The city's name derives from the monks of the Benedictine order who founded the city; hence the monk depicted on the city's coat... but it is not listed here because Fortune magazine considered it was located in the Netherlands, which is the place where EADS was legally incorporated for tax reasons. |
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Spatial organisation of the Paris economy
As of the 1999 census, there were 5,089,179 persons employed in the Paris aire urbaine (or "metropolitan area"). At the same 1999 census, 4,949,306 people living in the Paris aire urbaine had a job. The almost 140,000 people difference between these two figures comes from an outflow of about 60,000 people living inside the aire urbaine who work outside of it, and an inflow of about 200,000 people living outside of the aire urbaine who come to work inside it every day. Thus, out of the 5,089,179 people employed in the Paris aire urbaine in 1999, only about 200,000 people (3.9% of the total) lived outside of it, which is not surprising since the boundaries of the aires urbainesAire urbaine
The aire urbaine is a statistical region created by the INSEE that comprises a commuter belt surrounding a contiguous urban core...
are based on commuting patterns.
Well into the middle of the 20th century, the majority of jobs in the aire urbaine were concentrated in the city of Paris proper. However, after the Second World War the economic activity relocated to the suburbs, and the city has been steadily losing jobs to the benefit of the suburbs, in particular the Hauts-de-Seine
Hauts-de-Seine
Hauts-de-Seine is designated number 92 of the 101 départements in France. It is part of the Île-de-France region, and covers the western inner suburbs of Paris...
(92) département, home of the new La Défense
La Défense
La Défense is a major business district of the Paris aire urbaine. With a population of 20,000, it is centered in an orbital motorway straddling the Hauts-de-Seine département municipalities of Nanterre, Courbevoie and Puteaux...
business district, to the west of the city proper. Today, the city of Paris is not properly speaking the economic centre of the aire urbaine since most of the offices are in fact located in the western half of the city proper and in the central portion of the Hauts-de-Seine
Hauts-de-Seine
Hauts-de-Seine is designated number 92 of the 101 départements in France. It is part of the Île-de-France region, and covers the western inner suburbs of Paris...
département, forming a triangle between the Opéra
Palais Garnier
The Palais Garnier, , is an elegant 1,979-seat opera house, which was built from 1861 to 1875 for the Paris Opera. It was originally called the Salle des Capucines because of its location on the Boulevard des Capucines in the 9th arrondissement of Paris, but soon became known as the Palais Garnier...
, La Défense
La Défense
La Défense is a major business district of the Paris aire urbaine. With a population of 20,000, it is centered in an orbital motorway straddling the Hauts-de-Seine département municipalities of Nanterre, Courbevoie and Puteaux...
and the Val de Seine
Val de Seine
The Val de Seine is one of the more important business districts of the Paris agglomeration. Located southwest of the city, it spreads along a bend of the Seine, mainly in the municipalities...
district. Hauts-de-Seine has become a sort of extension of central Paris, with 873,775 persons employed there in the end of 2005, more than half as many as in the city of Paris proper (1,653,551 persons employed in the city of Paris in the end of 2005).
As a consequence workers do not just commute from the suburbs to work in the city of Paris, but also come from the city of Paris to work in the suburbs. Of the 5,416,643 persons employed in the Paris Region
Île-de-France (région)
Île-de-France is the wealthiest and most populated of the twenty-two administrative regions of France, composed mostly of the Paris metropolitan area....
in the end of 2005, only 1,653,551 (30.5%) worked inside the city of Paris proper, while 3,763,092 (69.5%) worked in the suburbs. However, once adding Hauts-de-Seine, the previous figures show that City of Paris and Hauts-de-Seine together still harboured 46.7% of all persons employed in the Paris Region in the end of 2005, which should help to put into perspective the phenomenon of job relocation to the suburbs: it was as much a relocation to the suburbs as an extension of central Paris beyond the administrative borders of the city.
During the 1960s and 1970s, the French government created several villes nouvelles ("new towns") on the outer ring of the Paris suburbs in order to multi-polarise the economy of the city. Economically speaking, those villes nouvelles have been a relative success since many companies are still moving into those areas today. However, they didn't completely fulfil their role of multi-polarisation: economic activities still remain in a large measure concentrated in the central core (City of Paris and Hauts-de-Seine) of the aire urbaine, as the above employment figures show.
Sectors of the Paris economy
The figures below, extracted from the 1999 census, show the distribution of the 5,089,179 persons employed in the Paris aire urbaine across the different economic sectors in the year 1999. This will give a sense of the extreme diversity of the Paris economy, marked nonetheless by the notable dominance of services.- Primary sectorPrimary sector of industryThe sector of an economy making direct use of natural resources. This includes agriculture, forestry and fishing, mining, and extraction of oil and gas. This is contrasted with the secondary sector, producing manufactures and other processed goods, and the tertiary sector, producing services...
: Agriculture, forestry, and fishing: 26,741 persons in employment (0.5% of total workforce) - Secondary sectorSecondary sector of industryThe secondary sector of the economy or industrial sector includes those economic sectors that create a finished, tangible product: production and construction.-Function:...
: Manufacturing and mining, construction, and utilities: 913,503 p. in emp. (17.9% of t. wf)- Manufacturing (includes mining and oil and gas extraction): 627,534 p. in emp. (12.3 % of t. wf)
The manufacturing industries employing most people are:- Electronic and electrical equipment, appliances, and components: 112,281 p. in emp. (2.2% of t. wf)
This branch is made of: computers and peripheral equipment; mobile phones; radio and television broadcasting and wireless communications equipment; semiconductors and other electronic components; navigational, measuring, electro-medical, and control instruments; electrical engines; electric lighting equipment; miscellaneous electrical equipment (cables, transformers, switchboards, etc.). This branch DOES NOT include household electronic and electrical appliances (televisions, radios, DVD players, ovens, refrigerators, watches, clocks, etc.). - Publishing, printing, and reproduction of recorded media: 87,599 p. in emp. (1.7% of t. wf)
Books, newspapers, magazines, etc. This branch DOES NOT include the motion picture and sound recording industries, neither does it include the broadcasting industries. - Foodstuff, beverages, and tobacco products manufacturing: 59,862 p. in emp. (1.2% of t. wf)
- Machinery and equipment manufacturing: 56,270 p. in emp. (1.1% of t. wf)
This branch is made of: engine, turbine, and power transmission equipment; pumps and compressors; material handling equipment; ventilation, heating, air-conditioning, and commercial refrigeration equipment; agriculture, construction, and mining machinery; machine tools; industrial moulds; industrial machinery (plastics and rubber industry machinery, textile machinery, etc.); and other general purpose machinery (welding and soldering equipment, industrial process furnaces and ovens, scales and balances (except laboratory), etc.). This branch DOES ALSO INCLUDE three industries generally listed under "Fabricated metal products manufacturing" in Anglo-Saxon classifications: architectural and structural metals manufacturing; boilers, tanks, and shipping containers; and arms and ammunitions. - Motor vehicles, trailers, and motor vehicle parts manufacturing ("car industry"): 52,149 p. in emp. (1.0% of t. wf)
- Electronic and electrical equipment, appliances, and components: 112,281 p. in emp. (2.2% of t. wf)
- Construction: 235,872 p. in emp. (4.6% of t. wf)
- Utilities: Electricity, natural gas and water supply: 50,097 p. in emp. (1.0% of t. wf)
- Manufacturing (includes mining and oil and gas extraction): 627,534 p. in emp. (12.3 % of t. wf)
- Tertiary sectorTertiary sector of industryThe tertiary sector of the economy is one of the three economic sectors, the others being the secondary sector and the primary sector .The service sector consists of the "soft" parts of the economy, i.e...
: Services: 4,148,935 p. in emp. (81.6% of t. wf)
The services employing most people are:- Business services (include rental and leasing services): 841,157 p. in emp. (16.5% of t. wf)
- Professional and technical services: 509,048 p. in emp. (10.0% of t. wf)
This branch is made of: computer systems design and related services; data processing, hosting, and related services; software publishing; legal services; accounting, tax preparation, bookkeeping, and payroll services; management of companies and enterprises; administrative management and general management consulting; human resources and executive search consulting; marketing consulting; process, physical distribution, and logistics consulting; environmental consulting; advertising and related services; and architectural, engineering, and related services. - Administrative, support, and waste management services: 272,981 p. in emp. (5.4% of t. wf)
This branch is made of: employment services (placement, temporary); investigation and security services; services to buildings and dwellings; photographic services; office administrative services; translation and interpretation services; business support services (call centres, collection agencies, etc.); packaging and labelling services; convention and trade show organisers; and waste management and remediation services. This branch DOES ALSO INCLUDE renting and leasing of machinery and equipment without operator and of personal and household goods, which is generally listed along with "Real estate" in Anglo-Saxon classifications. - Research and development: 59,128 p. in emp. (1.1% of t. wf)
- Professional and technical services: 509,048 p. in emp. (10.0% of t. wf)
- Commerce: 660,843 p. in emp. (13.0% of t. wf)
- Retail trade (except of motor vehicles) and repair: 308,323 p. in emp. (6.1% of t. wf)
- Wholesale and commission trade (except of motor vehicles): 276,282 p. in emp. (5.4% of t. wf)
- Sale, maintenance, and repair of motor vehicles: 76,238 p. in emp. (1.5% of t. wf)
- Public administrations and defense: 510,972 p. in emp. (10.0% of t. wf)
- Health services and social assistance: 451,373 p. in emp. (8.7% of t. wf)
- Transportation, storage, and communications: 419,779 p. in emp. (8.2% of t. wf)
This branch is made of: public and private transportation of passengers and freight; warehousing and storage; travel agencies; post and couriers; and telecommunications. - Education: 334,852 p. in emp. (6.6% of t. wf)
- Finance and insurance: 256,722 p. in emp. (5.0% of t. wf)
- Accommodation and food services (hotels and restaurants): 202,228 p. in emp. (4.0% of t. wf)
- Business services (include rental and leasing services): 841,157 p. in emp. (16.5% of t. wf)
External links
Paris Region Economic Development Agency Regional Chamber of Commerce and Industry of Paris - Île-de-France} Paris Region: Key figures 2008 – 2008 economic report published by the Regional Chamber of Commerce and Industry of Paris - Île-de-France CROCIS: Commerce, Industry, and Services Regional Observation Center – research and study department of the Paris Chamber of Commerce and Industry gathering data and statistics on the economy of the Paris Region (Greater Paris) Paris-Ile de France Capitale Economique – non-profit organization created by the Paris Chamber of Commerce and Industry and made up of French companies and professional organizations aiming at promoting Greater Paris economic strengths Paris Développement – economic development agency of the city of Paris IAURIF: Institute for Urban Planning and Development of the Paris Île-de-France Region L'industrie en Île-de-France – a website about the manufacturing industries in the Paris Region Comité Mécanique Île-de-France – a website about the mechanical industries in the Paris Region Regional Agency for Technologies and Information Society DRIRE Île-de-France – website of the regional division of the French Ministry of Economy, Finance, and Employment for the Paris Region Economic and Social Council of the Paris Île-de-France Region INSEE Île-de-France – website of the regional division of INSEE
INSEE
INSEE is the French National Institute for Statistics and Economic Studies. It collects and publishes information on the French economy and society, carrying out the periodic national census. Located in Paris, it is the French branch of Eurostat, European Statistical System...
for the Paris Region