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- (-) January 2023
- (-) France
- (-) Caribbean Basin
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During Covid-19, the French government designated the retail sector as essential. Retail companies were authorized to continue operations. The nationwide lockdown and the closing of restaurants gave a significant boost to the retail sector.
With 91 million visitors in 2019, France is one of the world’s leading tourist destinations. Tourism accounted for 7.5 percent of GDP, providing employment to 1.5 million people. In 2020, the COVID-19 pandemic reduced the flow of visitors by almost 55 percent, triggering a loss of nearly 160,000 jobs. The Hotel, Restaurant, and Institutional (HRI) sector saw a decrease in total sales revenue to $64 billion, a 30 percent decline from the previous year.
As a member of the European Union, France implements EU regulations for the import of animal and plant products. The US export certification requirements for most products are harmonized at the EU level; however, a few products, which are not yet harmonized across the EU, are still subject to French national regulations.
The Caribbean’s rebound from the economic downturn induced by the COVID-19 pandemic has been slow. Anxious for better times, the region is looking ahead at 2023 and hoping for improved tourist arrivals that will spark a return to more robust economic growth.