Paris is the capital city of France, and one of the principal tourist centres in modern Europe, as well as being a major centre of finance, diplomacy, commerce, fashion, science and arts. The City of Paris is the centre and seat of government of the region and province of Île-de-France, or Paris Region. The Paris Region had a GDP of €709 billion ($808 billion) in 2017. According to the Economist Intelligence Unit World-wide Cost of Living Survey, Paris was the second most expensive city in the world.
Paris is a major railway, highway, and air-transport hub served by two international airports: Paris–Charles de Gaulle, the second-busiest airport in Europe, and Paris–Orly. The city's subway system, the Paris Métro, serves 5.23 million passengers daily; it is the second-busiest metro system in Europe. Gare du Nord is the busiest railway station in the world, outside Japan, with 262 million passengers annually. Paris is especially known for its museums and architectural landmarks: the Louvre was the most visited art museum in the world, with 9.6 million visitors annually. The Musée d'Orsay, Musée Marmottan Monet and Musée de l'Orangerie are noted for their collections of French Impressionist art. The Pompidou Centre Musée National d'Art Moderne has the largest collection of modern and contemporary art in Europe. The Musée Rodin and Musée Picasso exhibit the works of two noted Parisians. The historical district along the Seine in the city centre is classified as a UNESCO World Heritage Site; popular landmarks there include the Cathedral of Notre Dame de Paris on the Île de la Cité. Other popular tourist sites include the Gothic royal chapel of Sainte-Chapelle, also on the Île de la Cité; the Eiffel Tower, constructed for the Paris Universal Exposition of 1889; the Grand Palais and Petit Palais, built for the Paris Universal Exposition of 1900; the Arc de Triomphe on the Champs-Élysées, and the hill of Montmartre with its artistic history and its Basilica of Sacré-Coeur.
Paris received 38 million visitors, measured by hotel stays, with the largest numbers of foreign visitors coming from the United States, the United Kingdom, Germany, and China. It was ranked as the second-most-visited travel destination in the world. Due to the city's international recognition, a number of places around the world, such as Bucharest and Leipzig, have been nicknamed Little Paris.
The football club Paris Saint-Germain and the rugby union club Stade Français are based in Paris. The 80,000-seat Stade de France, is located just north of Paris in the neighbouring commune of Saint-Denis. Paris hosts the annual French Open Grand Slam tennis tournament on the red clay of Roland Garros. The city hosted the Olympic Games in 1900, 1924 and will host the 2024 Summer Olympics. The 1938 and 1998 FIFA World Cups, the 2007 Rugby World Cup, as well as the 1960, 1984 and 2016 UEFA European Championships were also held in the city. Every July, the Tour de France bicycle race finishes on the Avenue des Champs-Élysées in Paris.
Economy The economy of the City of Paris is based largely on services and commerce; of the 390,480 enterprises in the city, 80.6 percent are engaged in commerce, transportation, and diverse services, 6.5 percent in construction, and just 3.8 percent in industry. The story is similar in the Paris Region (Île-de-France): 76.7 percent of enterprises are engaged in commerce and services, and 3.4 percent in industry.
59.5% of jobs in the Paris Region were in market services (12.0% in wholesale and retail trade, 9.7% in professional, scientific, and technical services, 6.5% in information and communication, 6.5% in transportation and warehousing, 5.9% in finance and insurance, 5.8% in administrative and support services, 4.6% in accommodation and food services, and 8.5% in various other market services), 26.9% in non-market services (10.4% in human health and social work activities, 9.6% in public administration and defence, and 6.9% in education), 8.2% in manufacturing and utilities (6.6% in manufacturing and 1.5% in utilities), 5.2% in construction, and 0.2% in agriculture.
The Paris Region had 5.4 million salaried employees in 2010, of whom 2.2 million were concentrated in 39 pôles d'emplois or business districts. The largest of these, in terms of number of employees, is known in French as the QCA, or quartier central des affaires; it is in the western part of the City of Paris, in the 2nd, 8th, 9th, 16th, and 18th arrondissements. In 2010, it was the workplace of 500,000 salaried employees, about 30 percent of the salaried employees in Paris and 10 percent of those in the Île-de-France. The largest sectors of activity in the central business district were finance and insurance (16 percent of employees in the district) and business services (15 percent). The district also includes a large concentration of department stores, shopping areas, hotels and restaurants, as well a government offices and ministries.
The second-largest business district in terms of employment is La Défense, just west of the city, where many companies installed their offices in the 1990s. In 2010, it was the workplace of 144,600 employees, of whom 38 percent worked in finance and insurance, 16 percent in business support services. Two other important districts, Neuilly-sur-Seine and Levallois-Perret, are extensions of the Paris business district and of La Défense. Another district, including Boulogne-Billancourt, Issy-les-Moulineaux and the southern part of the 15th arrondissement, is a centre of activity for the media and information technology. The top ten French companies listed in the Fortune Global 500 for 2018 all have their headquarters in the Paris Region; six in the central business district of the City of Paris; and four close to the city in the Hauts-de-Seine Department, three in La Défense and one in Boulogne-Billancourt. Some companies, like Société Générale, have offices in both Paris and La Défense.
The Paris Region is France's leading region for economic activity, with a GDP of €681 billion (~US$850 billion) and €56,000 (~US$70,000) per capita. In 2011, its GDP ranked second among the regions of Europe and its per-capita GDP was the 4th highest in Europe. While the Paris region's population accounted for 18.8 percent of metropolitan France in 2011, the Paris region's GDP accounted for 30 percent of metropolitan France's GDP.
The Paris Region economy has gradually shifted from industry to high-value-added service industries (finance, IT services) and high-tech manufacturing (electronics, optics, aerospace, etc.). The Paris region's most intense economic activity through the central Hauts-de-Seine department and suburban La Défense business district places Paris' economic centre to the west of the city, in a triangle between the Opéra Garnier, La Défense and the Val de Seine. While the Paris economy is dominated by services, and employment in manufacturing sector has declined sharply, the region remains an important manufacturing centre, particularly for aeronautics, automobiles, and "eco" industries.
Station F is a business incubator for startups, located in 13th arrondissement of Paris. Noted as the world's largest startup facility.
Tourist Economy Greater Paris, comprising Paris and its three surrounding departments, received 38 million visitors in 2019, a record, measured by hotel arrivals. These included 12.2 million French visitors. Of foreign visitors, the greatest number came from the United States (2.6 million), United Kingdom (1.2 million), Germany (981 thousand) and China (711 thousand). However, tourism to Paris and its region fell to 17.5 million in 2020 due to the COVID-19 pandemic, with a 78 percent drop in foreign tourists measured by hotel stays, and a drop of 56 percent in French guests, for an overall drop of 68 percent. This caused a drop 15 billion Euros in hotel receipts.
Acording to the Euromonitor Global Cities Destination Index, Paris was the second-busiest airline destination in the world, with 19.10 million visitors. According to the Paris Convention and Visitors Bureau, 393,008 workers in Greater Paris, or 12.4% of the total workforce, are engaged in tourism-related sectors such as hotels, catering, transport and leisure.
Paris is rated Alpha + by the Globalization and World Cities Research Network (GaWC) which evaluates and ranks the relationships between world cities in the context of globalisation. Alpha level cities are linked to major economic states and regions and into the world economy, Alpha + cities are highly integrated cities, filling advanced service needs
Paris is the #4 city in the world according to the Global Power City Index (GPCI) which evaluates and ranks the major cities of the world according to their magnetism, or their comprehensive power to attract people, capital, and enterprises from around the world. It does so through measuring six key functions: Economy, Research and Development, Cultural Interaction, Liveability, Environment, and Accessibility.
Paris is the #18 city in the world according to the Global Financial Centres Index (GFCI) which evaluates and ranks the competitiveness of the major financial centres of the world according to a wide range of criteria – Human Capital, Business, Finance, Infrastructure and Reputation.
Paris is ranked #21 by the Global Urban Competitiveness Report (GUCR) which evaluates and ranks world cities in the context of economic competitiveness. Paris is rated A by the Global Urban Competitiveness Report (GUCR) which evaluates and ranks world cities in the context of economic competitiveness. A cities are international cities. Paris was ranked #93 by the Nomad List which evaluates and ranks remote work hubs by cost, internet, fun and safety. Paris has a population of over 2,140,526 people. Paris also forms part of the wider Paris metropolitan area which has a population of over 12,628,266 people. Paris is the #49 hipster city in the world, with a hipster score of 5.4519 according to the Hipster Index which evaluates and ranks the major cities of the world according to the number of vegan eateries, coffee shops, tattoo studios, vintage boutiques, and record stores per 100,000 city residents.