Almost about a week ago, the citizens of Paris were left traumatised by the attacks on them. But the citizens weren’t the only ones left traumatised. Paris’ economy has slowly started to fall. Just over half a year ago Paris’ economy felt the hit with the Charlie Hebdo attacks. Their tourism had fallen by 25% in just 9 days, and by a further 26% in the next 10 days. Consumer confidence had fallen by a large amount and this was slowly affecting restaurants and bars as they had seen a 68% percent cancellation in reservations.
The recent attacks has not only hindered tourism, but it’s affected Paris’ beauty and the reason why people visit Paris. In my opinion Paris’ tourism sector will be performing very poorly for the next few months even though it is the number 1 most visited place in the world. France being the Eurozone’s second largest economy and sixth largest in the world is definitely going to affect countries that trade when France. This could possibly cause France to have a deficit on their Balance Of Payments Current Account as imports are likely to increase in terms of aid and exports are likely to decrease.
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