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Published on : Wednesday, March 29, 2017
Joint tourism and business schemes were announced by the mayors of London and Paris, a day before the UK’s formal exit from the EU was prompted. A business unit will be set up in the city hall promotional agency, London and Partners, and its French counterpart Paris & Co.
Next year, a joint tourism scheme is scheduled to be launched. Mayor of London Sadiq Khan said, “Two of the world’s greatest cities had so much to gain from joining forces.”
Mayor of Paris Anne Hidalgo said “Paris and London share common values and willpower.” According to a spokesman, “Paris-London Business Welcome Program will be run by a small dedicated team aiming to encourage and facilitate the flow of trade and investment between the two cities.”
London receives more inward investment from Paris than other cities of the world, having attracted £2.6bn that has fetched almost 10,000 jobs in the last ten years. In comparison, Paris is the largest European destination for foreign direct investment from London, with more than 160 London-based companies set up in the city since 2006, creating 7,500 jobs. According to latest figures from the partnership, tourists spend in more than £30bn and support up to 1.2m jobs in both London and Paris. Similar schemes will be rolled out to other cities in Europe and around the world.