Paris attacks knock €2bn off French economy

French radio station RTL has unveiled a note from the French Treasury direction that has estimated to €2bn (or 0.1% GDP) the cost of Paris attacks for the French economy.

The assessment relies on data collected after attacks that have occurred in France during the last thirty years.

According to RTL, the note highlights massive drop in tourism and decreasing in household consumption. Lots of events held in France have been either cancelled or postponed. Bookings in flights and hotels have seen huge cancellations as well.

Measures that have been taken by the government to strengthen security in the country also slow down the economy.

The French investment public bank BPI has decided to suspend debt repayments for hotels located in Paris and its surroundings for six months.

This €2bn first estimation might change over the coming weeks.

Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

Read more from Adrien Paredes-Vanheule

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