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Introduction

The Paris Region (Île-de-France in French) hosts the country's capital and hence the Paris metropolitan area occupies the greater part of it. It is surrounded by five other regions: Centre-Val de Loire, Normandie, Hauts-de-France, Bourgogne-Franche-Comté and Grand Est. Paris Region is home to 12.1m inhabitants, making it the most populated region in France (18.2% of the metropolitan population) (Eurostat, 2017). The region is the richest in France and the fifth richest in the European Union. It is also the most important French region and one of the top European regions in terms of research, development and innovation.
 

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Economy
Socio-economic profile:

In 2015, Paris Region accounted for 30.2% of the French gross domestic product (GDP) and 4.5% of the European GDP (Eurostat, 2017). This made the region the first contributor to national GDP, well ahead of Auvergne-Rhône-Alpes with 11.4% and Provence-Alpes-Côte d’Azur with 7,0%. The regional GDP is higher than that of most European countries, including Sweden and Belgium. The regional contribution to national GDP increased over the period 2006-2015 (from 28% to 30,2%). In terms of growth, Paris Region is much stronger than the French average: between 2006 and 2015, the region had an average annual growth rate of 2.8%, one percentage point above the national average (1.8%) (Eurostat, 2017).
People living in the Paris Region also have a higher GDP per Capita. The GDP per capita in the Paris Region reached €50,900, while it was €30,600 at the national level.
In 2016, Paris Region hosted approximately 18.2% of the French population (Eurostat, 2017) and accounted for 19.8% of national employment in 2016. Its unemployment rate stood at 9,2%, which is lower than the national (10.1%) but higher than the European (8.6%) rates (Eurostat, 2016). Equally, youth unemployment (15-24 years old) was 22.6%, slightly below the national average (24.7%) but above the European one (18.7%). Currently, the percentage of the population under 29 years of age in the total population is 40.4%, compared to 37.2% in the rest of the country (INSEE, 2017).
It is important to note that historically, regional unemployment has always been one or two points below the national rate. Lately however, the gap has reduced, and regional employment has lost competitiveness in comparison to other French regions (INSEE, 2017).
Regional employment is strongly oriented towards the services sector. Employment in services represent 84.2% of the region's total, compared to 76.8% at national level (Eurostat, 2017). Knowledge intensive business services account for a massive part of the jobs created in this sector over the last 15 years. In 2016, they represented 7.1% of the total jobs, well above French and European average 4.0%.
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Paris Region is the first industrial region in the country, in terms of number of jobs. Nevertheless, employment in the industry only represented 12% of the regional employment in 2016, lower than the national share of 20.4% (Eurostat, 2017). In 25 years (1993-2017), the region has lost 50% of its industrial jobs while at the national level 30% of industrial jobs have been lost (INSEE, 2017).  The key industries in the region include electronics and ICT, aeronautics, biotechnologies, finance, mobility, automobile, pharmaceuticals, and aerospace (InvestParisRegion, 2017).
 

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