2019 France Attractiveness Scoreboard: Green Growth & R&D initiatives key to France's strength
The France Attractiveness Scoreboard judges the attractiveness of France compared to 13 other members of the Organization for Economic Cooperation and Development (OECD) based on a wide range of economic indicators.
- (1888PressRelease) October 23, 2019 - As the world's sixth-largest economy, France reaffirms its position as the leading host country for production investment in Europe.
The scoreboard's analysis of economic indicators highlights several factors behind the French economy's key strengths, include structural factors, business creation & future-proofing initiatives.
Key structural strengths preparing for the future
France benefits from high-quality airport infrastructures, with Paris Charles de Gaulle ranked 2nd for cargo transport & passengers. The rail freight transport is also extensive: ranked 3rd among selected European countries.
Businesses in France enjoy a high-quality telecommunications infrastructure, with the highest fixed broadband penetration rate among the countries and one of the highest wireless rates (ranked 2nd).
Increase in new business creation & a focus on industry
The start-up enterprise rate across the whole French economy has consistently stayed above 9% since 2008, putting France in 3rd position after the UK and Poland. In manufacturing, this rate was 7.3%, with the rate having remained above 7% since 2009.
In 2018, France's manufacturing industry had the lowest increase in labour unit costs amongst the selected countries (+0.1%). In comparison, labour unit costs in the manufacturing industry increased by +2.3% among the EU-28.
R&D at the forefront of Government initiatives
France has the world's most beneficial tax treatment for businesses research and development expenditure. The cost of employing a researcher in France has decreased by 28% thanks to the research tax credit and accompanying grants. R&D expenditure in France rose by 1.8% in 2018, the highest increase in recent years.
Aiming for a carbon-free economy
Several government initiatives have been led in recent years, including the Climate Plan to achieve carbon neutrality by 2050, or the 2015 Paris Agreement for an evolution towards sustainable development :
Green growth boosts economic and job opportunities, notably in green energy. In 2017, France's renewable energy sector covered 140,700 jobs (0.5% of its working population).
"The importance placed on the low-carbon economy and technological innovation through events such as Make our Planet Great Again, the One Planet Summit and Tech for Good, indicates the way forward for the many startups that form part of our innovative economy," concludes Pascal Cagni, Chairman of Business France and Ambassador for International Investment.
French electricity rates are among the most competitive in Europe due to careful management of electricity generation and the national grid. Rates are stable, with a 0.3% rate change for 70,000 to 150,000 MWh.
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