The industry of banking financial services and insurance is rising more effectively in France with the category of financial services. The key players of this category are playing an effective role by serving actively to the customers by offering effective policies and strategies for gaining profit. Whereas, the financial intermediation, real estates, and business activities underwrote 30.3% to the gross value added (GVA) in 2017, followed by mining, manufacturing, and utilities (14.2%), and wholesale, hotels and retail (12.8). In nominal terms, in 2018 the three segments are anticipated to rise by 3.5% and 1.0%, respectively. In addition, the companies of the financial services market provide various facilities and main services related to the health and life insurance. Furthermore, the key players are making effective policies for gaining the significant attention of the buyers and provide them efficient services regarding the managing investments which further lead the market growth more actively and positively in the coming years.
According to the report analysis, ‘PESTLE Insights: Macroeconomic Outlook Report – France’ states that the four major regions of France introduce around 56% of the country’s GDP in 2016 and encompass 47.8% of the country’s population in 2017. Moreover, with the growing population, the market of real estate’s is gaining effective attention more significantly in France which led the market growth of the financial services as the real estate sector involves a huge amount of transaction and people believe that investing in real estate sector is more beneficial rather than the others. As per the World Bank’s logistics performance index (LPI), transport and logistics infrastructure in France worsened over the two years with a reduction in rank from 13th in 2014 to 16th over of 160 regions in 2016. Moreover, the country has initiated a Big Investment Plan for 2018-2022 valued EUR57 billion (USD 64.3 billion). The EU 28 countries were the largest source of FDI inflows into France in 2017.
The report also signifies the key clients and clusters which are contributing effectively to the country GDP and population along with the major companies’ presence in these areas. The government is also playing an effective role by contributing more actively by the amalgamation with the private industries which proved to be advantageous for the both. Moreover, many of the international key players are willing to come to the France market of financial services as the population is growing and they majorly believe in making the investments for a better future. With the growing demand for financial services, the key players are widespread their business premises for accomplishing the demand of the buyers which further lead the key player for acquiring the huge market share. Banks are also providing effective facilities in the category of financial services in France apart from banking services. However, banks are helping their customers in making the investment or acts on behalf of its clients for making the investment. It is expected that in the coming years the market will grow more significantly over the decades with the introduction of more policies and strategies at a reasonable price by the financial services providers.
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Ankur Gupta, Head Marketing & Communications