According to Trade Finance Global, “France is the second-largest consumer market in Europe with more than 65 million inhabitants; it is the world’s fifth-largest economy and imports more than $600 billion worth of goods each year”.
Here are the top 5 reasons why you should consider exporting to France:
Industries
Trade Financial Finance states that “France is home to Europe’s largest banking, aerospace and nuclear industries, the second-largest agricultural and chemical industries and the third largest communications technology and pharmaceutical sectors”.
Economy
France is the 6th largest export economy in the world and it has the 2nd largest economy in the Eurozone after Germany.
Consumers
According to Santander Trade Portal, in France, consumers enjoy a high spending power, and the GDP per capita was of USD 42,300 in 2016 (39th in the world). France stands out by its high consumption of entertainment, culture and gifts. The French consumer, quite well-off, buys often and likes to try new and innovative products.
Tourism
France is the most popular tourist destination according to the World Tourism Organization, who says that more than 83 million people visit every year (annual visitors bringing in about €77 billion). This represents even more consumers!
Location
France has a privileged location geographically speaking (it borders Andorra, Belgium, Switzerland, Germany, Spain, Italy and Luxembourg by land and the United Kingdom by sea).
Challenges
Although French is the official language of the country, many businessmen speak English. Depending on the type of company contacted, the geographical location and the sector of activity, it can be difficult to find an interlocutor who speaks English. Being able to communicate and negotiate in French is a clear advantage.
However, Infinitus could help you break the language barrier (from organizing and hosting events to promote your products, translation of your marketing materials and business meetings with potential partners and customers). Contact us to start building your market entry strategy!
Sources:
https://europa.eu/european-union/about-eu/countries/member-countries/france_en
https://www.tradefinanceglobal.com/exports/france/
https://www.gov.uk/guidance/exporting-to-france
https://en.portal.santandertrade.com/analyse-markets/france/reaching-the-consumers