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Gulf Today
a day ago
- Gulf Today
France announces plan to boost tourism revenues to $117.47 billion
French Prime Minister François Bayrou announced a strategic plan aiming to increase international tourism revenues in France to €100 billion ($117.47 billion) annually by 2030 - a rise of €29 billion compared to the €71 billion in revenue recorded in 2024. During a meeting of the Interministerial Tourism Committee held in the city of Angers, Bayrou unveiled a package of measures designed to strengthen France's position in the global tourism market. Although France topped the list of countries in terms of foreign visitor numbers in 2024 - with 100 million tourists - it ranks only fourth worldwide in international tourism revenues, behind countries such as Spain, which earned €126 billion in revenues despite welcoming fewer visitors. Experts attribute this disparity to the shorter average stay of tourists in France, which limits their overall spending. French Tourism Minister Nathalie Delattre explained that the tourism sector accounts for 8 per cent of France's GDP, equivalent to €200 billion, and provides 2 million non-relocatable jobs, making it a strategic pillar of the national economy. Meanwhile the French Ministry of Economy announced today that the projected public deficit for 2026, initially estimated at 4.6 per cent of the country's GDP, will see a slight increase but will remain below the 5 per cent threshold. The ministry, alongside the Ministry of Finance and Public Accounts, stated that this adjustment will be factored into the preparation of the 2026 budget, which will soon be under discussion. In October, France submitted its medium-term financial plan to the European Commission, outlining its commitment to reducing the public deficit to 2.8 per cent by 2029, while maintaining the primary goal of bringing it below 3 per cent in accordance with European fiscal rules. Meanwhile, the French Parliament today approved the 2025 state budget in a final vote in the Senate, concluding a legislative process that faced hurdles, particularly after the bill was suspended in December following a regulatory decision by the government of Michel Barnier. The newly adopted budget includes austerity measures worth €50 billion, aimed at reducing the public deficit to 5.4 per cent of GDP in 2025, down from the approximately 6 per cent deficit expected for 2024. The Ministry of Economy stressed that achieving this target is 'essential', noting that budget implementation will be closely monitored to ensure compliance with ministerial allocations and to take any necessary corrective measures. Additionally, the French government has revised its economic growth forecast for 2025, lowering it from 1.1 per cent to 0.9 per cent. France's Travel & Tourism sector reached new historic heights in 2024 and is on track to exceed this exceptional performance throughout 2025, according to new data from the World Travel & Tourism Council (WTTC). The latest Economic Impact Research (EIR), produced in collaboration with Oxford Economics, confirms that in 2024, Travel & Tourism in France surpassed all previous records across economic contribution, employment, and visitor spending, solidifying the country's leadership as the world's most visited destination. The sector contributed €266.2 billion to the French economy, 10.1 per cnet above 2019 levels and equivalent to 9.1 per cent of the national GDP. Travel & Tourism also supported three million jobs, employing 300,000 more people than in 2019. International visitor spending reached €72.5 billion, while domestic visitor spending climbed to €142.1 billion, reflecting strong and balanced demand, seeing a hike of 7.1 per cent and 5.7 per cent on peak levels, respectively. According to WTTC projections, 2025 is expected to continue this upward trajectory and improve on the previous year's historic peak across all analysed metrics. The sector is forecast to contribute €274.2 billion to the GDP, increasing to 9.3 per cent share of the economy, while employment is expected to reach 3.1 million jobs – nearly 1 in 10 people employed by Travel & Tourism in France. International visitor spending is projected to rise to €75.1BN, with domestic spend reaching €144.2 billion. This enduring performance highlights France's strong tourism fundamentals, from world-class cultural and leisure assets to robust transport infrastructure and sustained government support. Julia Simpson, WTTC President & CEO, said: 'France continues to set the pace for Travel & Tourism worldwide. After a historic 2024, the sector is expected to maintain its growth into 2025 and beyond. 'The successful hosting of the Olympic and Paralympic Games showcased France on the global stage, reinforcing its reputation as a premier destination with the capacity to deliver exceptional experiences at scale. France remains a beacon for travellers globally.' Agencies
Harpers Bazaar Arabia
2 days ago
- Harpers Bazaar Arabia
It's Calm On The Côte With Hotel Couvent
The Hôtel du Couvent offers a spiritual stillness in the bustling heart of the French Riviera It's a coast of contrasts. On one side superyachts filled with champagne-popping party people en route to La Guérite, dressed in exuberant Pucci. And on the other, you have Hôtel du Couvent. Appropriately for a converted convent, its luxury whispers. Discreet, imbued with history, a place of pilgrimage for those looking to take in the Côte d'Azur spirit that lured philosophers, writers and poets like Cocteau and Bonnard. But just because it isn't loud, doesn't mean it isn't important, impressive. French hotelier Valéry Grégo's transformation – and preservation – of this 17th-century convent is clearly a labour of love by someone who sees this much more than just another hotel on the Riviera. And when the 88-room property opened its doors last year, a decade after work started on its restoration, it was appropriately the talk of the town for the truly discerning. It's for those whose cupboards are stocked with Loro Piana. Monastic traditions are kept intact; where else would you find a library filled with vintage tomes, an in-house herbalist and apothecary, lush gardens or an on-site bakery dispensing feather-light madeleines? But a five-star approach also abounds when it comes to creature comforts. Neutrally kitted-out rooms, bathed in the areas brilliant light, are beautifully appointed – even those that take up the previously spartan converted nun's quarters. Plus there's a wellness centre – meditation is encouraged, mindfulness will follow naturally – complete with swimming pool, and Roman-style baths to rejuvenate. Daily menus with a focus on seasonal, local ingredients come courtesy of chef Thomas Vitele who works closely with exclusive supplier Nôtre Dame farm. Forty years after the nuns departed, this space is imbued with life once more. It's lucky for the guests however, that the spiritual soul of the setting has been retained, celebrated. And that is what makes this hotel in Nice's Old Town, such a special place in the sun.
Tahawul Tech
3 days ago
- Tahawul Tech
X pushes back against French investigation
Social media platform X has pushed back against what it deems a 'politically motivated' criminal investigation launched by French authorities, they went on to state it will not comply with the probe and denies any allegations. In a post on its Global Government Affairs handle, X responded to a probe launched by the Paris prosecutor's office last week to investigate suspected abuse of algorithms and fraudulent data extraction by the company and its executives. X stated it 'remains in the dark' as to the specific allegations made against the platform but based on what it knows so far it believes the investigation is 'distorting French law in order to serve a political agenda and, ultimately, restrict free speech'. The company explained French authorities had requested access to its recommendation algorithm and real-time data about all user posts on the platform in order for experts to analyse the data and purportedly 'uncover the truth' about the operation of the X platform. One of the experts in question is French politician Eric Bothorel who heads up French public institution Escape X, which X said is dedicated to encourage users to leave the platform. Another expert is Maziyar Panahi, who has previously participated in research projects with Bothorel and has been known to 'demonstrate open hostility towards X', added the company. 'The involvement of these individuals raises serious concerns about the impartiality, fairness and political motivations of the investigation, to put it charitably. A predetermined outcome is not a fair one,' added X's post. X is also under fire from the European Commission over potentially breaching advertising rules under the Digital Services Act. Source: Mobile World Live Image Credit: X
