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The Place
France, or officially the French Republic, is the largest Western European country,
and is known both throughout Europe and on a global level for being a significantly
influential player culturally, economically, militarily and politically.
Referred to as “L’Hexagone” due to the geometric shape of the landmass, France possesses
the second largest Exclusive Economic Zone in the world of 4,260,000 square miles,
second only to the United States in this respect.
Politically, France has an important standing, being a founding member of the United
Nations, one of five permanent members of the UN Security Council, a member of the
Francophonie, as well as of the G8, G20, NATO, OECD, WTO and Latin Union. Furthermore,
France is a founding and leading member state of the European Union and the largest
by area.
The Economy
As a member of the G8 group of leading industrialised countries, France stands as
one of the world’s most developed countries and possesses the world’s fifth largest
and Europe’s second largest economy by nominal GDP.
Alongside 11 other EU members, the country also launched the euro on 1 January 1999,
with the French franc being totally replaced by the European currency by early 2002.
The military and armed forces are economically substantive, as France possesses
the world’s third largest nominal military budget, the third largest military in
NATO and EU’s largest army.
The French economy combines both extensive private and state enterprise, with the
government still retaining influence over key infrastructure sectors such as railway,
electricity, nuclear power, aircraft and telecommunications. Meanwhile, financial
services, insurance and banking remain important economical players: the French
branch of Franco-American stock market NYSE Euronext, Euronext Paris, is Europe’s
second largest stock exchange market, behind the London Stock Exchange.
The Lifestyle
French life circulates primarily around enjoying the finer things in life: the country
is known for its champagne, fine wines, gourmet food and cheeses, its leisurely
pace and its unique artistic expression in music, art, architecture, literature
and debate.
These pursuits that embody the famed French “joie de vivre” have seduced the hundreds
of thousands of Brits who are now resident there, as well as drawing the 82 million
foreign tourists received annually, making it the world’s most visited country.
The French constitution defines the lifestyle as indivisible, secular, democratic
and social, and the lifestyle does indeed reflect these ideals through boasting
one of the world’s highest life expectancies, a high level of education, and a high
standard of living as part of a unique and diverse culture.
The Prospects
Of an estimated population of 65.8 million, which makes France the world’s 20th
most populous country, approximately 5 million are European immigrants. This, combined
with the easy travelling distance to the UK and the appeal of the laidback and quintessentially
“French” culture, makes this the ideal location to start a financial career amidst
the hundreds of thousands of British expats now resident in France.
Meanwhile, the prominent political and economic standing of France both in the eurozone
and the world, with high net worth individuals habitually passing through the region,
ensures that the opportunities for doing business with would-be investors are limitless.
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