The Provence-Alpes-Côte d'Azur region (Paca), heavily dependent on tourism, should be hit hardest by the economic crisis caused by the coronavirus, said Thursday the president of the regional Medef Yvon Grosso.
French Gross Domestic Product (GDP) could drop by "at least 8%" this year, according to the Governor of the Banque de France François Villeroy de Galhau. But in PACA, the impact on GDP could be "more than 10%" due to the preponderance of the tourism sector, even if there is not yet a precise evaluation, warned Yvon Grosso, during 'a videoconference. He notably underlined the importance of catering, nautical activity, the travel sector in this region located on the shores of the Mediterranean.
"A sudden and violent decline in activity"
The regional economy as a whole undergoes "a sudden and violent decline in its activity", according to the Partnership Observation of the conjuncture, network of experts composed of the Region, the Direccte, Pôle emploi, the Banque de France or even the 'Urssaf. In March, the fall in activity is thus evaluated at almost 50% against 35% at the national level.
As of April 14, more than 153,000 businesses in the Paca region were benefiting from a deferral of social security contributions, of which more than half (78,700) are sole proprietorships with automatic deferral.
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