France’s economy was adjusting to a series of reforms at the time that Covid hit. Emanuel Macron had initiated changes to the tax environment, education and a new labour code which were increasing the attractiveness of the country says Laurence Bouard, Directrice Etudes et Recherche, Colliers International, France.
Speaking during Real Asset Media’s Market Snapshot: Investing in France, she said the French economy’s success rate in attracting overseas investment has increased annually at a steady rate. Last year the country accounted for 19% of the inward investment projects won throughout Europe, measured in terms of jobs created.
While 2019 demonstrated the country’s resilience, said Bouard, Covid has led to deep economic crisis in 2020, right across Europe. And she points out that those countries enforcing the strictest lockdowns have had the sharpest falls in economic activity – GDP fell by 8% in France’s case. But next year a sharp rebound is expected, she says.
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