As French President Emmanuel Macron prepares to host the annual “Choose France” summit on Monday, May 19, aimed at attracting foreign investment, concerns are mounting over the country’s recent performance in this area. Despite expected announcements highlighting France’s economic appeal, data indicates a continuous decline since a peak in 2021.
According to EY’s annual barometer, published on Thursday, May 15, foreign investments in France reached their lowest level since 2017 in 2024, with 1,025 projects recorded.. This represents a 14% decrease compared to 2023 and a nearly 20% drop compared to 2022 and 2021.
The number of jobs created by these investments is also concerning, with only 29,000 new positions in 2024 – a 27% year-on-year decrease and a 35% decline compared to 2021. While 2021 was a particularly strong year, comparable to 2018 when Macron’s election sparked enthusiasm among international investors, the current downturn is significant.
This decline mirrors trends in other major European economies, such as Germany, which has experienced economic stagnation, and the United Kingdom, which is still recovering from Brexit. Despite these challenges, France remains the leading European country for foreign investment, followed by the United Kingdom (853 projects, down 13% from 2023) and Germany (608 projects, down 17%).
The Elysée Palace described France’s leading position as “excellent news,” emphasizing that it “wasn’t obvious a few years ago that France would become the leader in terms of attractiveness in Europe”.
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