Jean-Pierre Savarino, president of the Nice Chamber of Commerce and Industry, unveiled the key economic indicators for the department in 2017.
They reflect the improvement of the French situation which has had a positive impact on the Côte d’Azur region. After a timid recovery in 2016, the past year was one of solid revival, reinforcing the moderately optimistic forecasts for 2018.
The political situation is stable, and the executive’s pro-business signals, along with the commitment and agenda of reforms, are positive signs for economic players who need a medium-term vision to plan investments in an internationally competitive environment.
The revenue for 2017 compared to 2016 shows an increase of 1.5%, exports rose by 5%, while employment remains stable.
For the Nice area alone, the same indicators show 1.5, 2.5, and 1.0 respectively.
Over 5,000 new businesses have been registered, an indication that strong morale is driving entrepreneurial ventures.
For the year 2018, the outlook is promising: +1.0 for revenue, +2.5 for exports, and +1.0 for employment, which is finally starting to take off (there is always a time lag between growth and employment).
The chamber also presented the results of a study, conducted by a specialized company, regarding the economic footprint, asset management, and participations. In short, the impact of its presence and activity in the area.
The study shows the capacity to generate directly, indirectly, and induced, a business volume of 1.7 billion euros, 12 times its amount of resources (valued at 142 million euros), and creates nearly 15,000 jobs.
An indirect (or direct?) response to all those (many) who criticize chambers of commerce considering them as administrative bodies, whereas they are, at least in the case of Nice’s metropolis and the Alpes-Maritimes department, an important lever for the dynamism of the local economy, estimated at 699 billion euros.
