section_path: Economy
section_name: Economy
paragraph_text: Economy
  
  The economy of the City of Paris is based largely on services and commerce. Of the 390,480 enterprises in Paris, 80.6 percent are engaged in commerce, transportation, and diverse services, 6.5 percent in construction, and 3.8 percent in industry. The story is similar in the Paris Region (Île-de-France): 76.7 percent of enterprises are engaged in commerce and services, and 3.4 percent in industry.
  
  At the 2012 census, 59.5% of jobs in the Paris Region were in market services (12.0% in wholesale and retail trade, 9.7% in professional, scientific, and technical services, 6.5% in information and communication, 6.5% in transportation and warehousing, 5.9% in finance and insurance, 5.8% in administrative and support services, 4.6% in accommodation and food services, and 8.5% in various other market services), 26.9% in non-market services (10.4% in human health and social work activities, 9.6% in public administration and defence, and 6.9% in education), 8.2% in manufacturing and utilities (6.6% in manufacturing and 1.5% in utilities), 5.2% in construction, and 0.2% in agriculture.
  
  The Paris Region had 5.4 million salaried employees in 2010, of whom 2.2 million were concentrated in 39 pôles d'emplois or business districts. The largest of these, in terms of number of employees, is known in French as the QCA, or quartier central des affaires. In 2010, it was the workplace of 500,000 salaried employees, about 30 percent of the salaried employees in Paris and 10 percent of those in the Île-de-France. The largest sectors of activity in the central business district were finance and insurance (16 percent of employees in the district) and business services (15 percent). The district includes a large concentration of department stores, shopping areas, hotels and restaurants, as well a government offices and ministries.
  
  The second-largest business district in terms of employment is La Défense, just west of the city. In 2010, it was the workplace of 144,600 employees, of whom 38 percent worked in finance and insurance, 16 percent in business support services. Two other important districts, Neuilly-sur-Seine and Levallois-Perret, are extensions of the Paris business district and of La Défense. Another district, including Boulogne-Billancourt, Issy-les-Moulineaux and the southern part of the 15th arrondissement, is a centre of activity for the media and information technology.
  
  In 2021, the top French companies listed in the Fortune Global 500 all have their headquarters in the Paris Region. Six are in the central business district of the City of Paris, four are close to the city in the Hauts-de-Seine Department, three are in La Défense and one is in Boulogne-Billancourt. Some companies, like Société Générale, have offices in both Paris and La Défense. The Paris Region is France's leading region for economic activity, with a GDP of € 765 billion, of which €253 billion was in Paris city. In 2021, its GDP ranked first among the metropolitan regions of the EU, and its per-capita GDP PPP was the 8th highest. While the Paris region's population accounted for 18.8 percent of metropolitan France in 2019, the Paris region's GDP accounted for 32 percent of metropolitan France's GDP.
  
  The Paris Region economy has gradually shifted from industry to high-value-added service industries (finance, IT services) and high-tech manufacturing (electronics, optics, aerospace, etc.). The Paris region's most intense economic activity through the central Hauts-de-Seine department and suburban La Défense business district places Paris's economic centre to the west of the city, in a triangle between the Opéra Garnier, La Défense and the Val de Seine. While the Paris economy is dominated by services, and employment in manufacturing sector has declined sharply, the region remains an important manufacturing centre, particularly for aeronautics, automobiles, and "eco" industries.
  
  In the 2017 worldwide cost of living survey by the Economist Intelligence Unit, based on a survey made in September 2016, Paris ranked as the seventh most expensive city in the world, and the second most expensive in Europe, after Zürich. In 2018, Paris was the most expensive city in the world with Singapore and Hong Kong. Station F is a business incubator for startups, noted as the world's largest startup facility.