Paris, the City of Lights, has always been a magnet for travelers from all corners of the globe. But recent years have seen a tumultuous period for the city’s tourism industry.
A Series of Setbacks
Terrorist attacks, the yellow vest protests, and transportation strikes all conspired to disrupt the flow of visitors to Paris in the years leading up to 2020. Just as the tourism sector was starting to recover, the COVID-19 pandemic struck, bringing the world to a standstill.
Travel restrictions and border closures brought tourism to a screeching halt. Paris, like many other global cities, felt the devastating impact of the pandemic, experiencing a sharp drop in visitor numbers.
A Strong Recovery
However, like a phoenix rising from the ashes, Paris has shown incredible resilience. The French government’s robust support measures and the city’s enduring global appeal have fueled a remarkable rebound in tourism.
The easing of travel restrictions and the successful vaccination rollout across Europe have paved the way for a surge in tourist arrivals. Starting in June 2021, visitor numbers began to climb, injecting much-needed life back into the city’s economy.
A Solid Foundation
Paris has long been a favorite among hotel investors. Its strong economic fundamentals and thriving tourism industry have made it a highly desirable destination for hospitality investment. The city’s attractiveness has remained undeterred, even in the face of recent challenges.
A History of Resilience
Even before the pandemic, Paris had a proven track record of weathering storms. Tourist numbers had consistently remained stable between 15 and 16.5 million visitors annually until 2016.
Despite the setbacks caused by the terrorist attacks in 2015 and 2016, the tourism sector demonstrated its capacity to rebound. Between 2017 and 2019, visitor numbers soared, with 2019 setting a new record for tourist arrivals.
Challenges such as the yellow vest protests, a summer heatwave, and transportation strikes did not dampen the city’s allure. The allure of Paris was further amplified by the success of international events and a significant increase in domestic tourism.
Riding the Wave of Recovery
The pandemic may have thrown a wrench in the works, but Paris’s tourism industry is once again on the upswing. Domestic and European leisure travelers have been leading the charge in the recovery, and the gradual return of face-to-face events is further boosting demand.
The city’s diverse customer mix, varied demand sources, and strong seasonal appeal have contributed to a robust rebound. With the Rugby World Cup in 2023 and the Olympic Games in 2024 on the horizon, Paris is poised to welcome a wave of international visitors, propelling the tourism sector back to pre-pandemic levels.
A Market on the Move
The Parisian hotel market has been undergoing a transformation in recent years, with a noticeable shift towards upscale and luxury establishments. This trend is reflected in the increasing share of higher-end hotels and a corresponding decrease in non-classified and budget accommodation options.
As of early 2022, Paris boasted over 1,585 hotels, offering a total of approximately 84,000 rooms. The city has witnessed a flurry of high-profile hotel openings in recent years, including the Kimpton St Honoré Paris, Cheval Blanc Paris, Madame Rêve, Bulgari Paris, and the first Soho House in France. These upscale additions to the city’s hotel landscape further solidify Paris’s reputation as a world-class destination for luxury travel.
Paris: A City of Enduring Charm
Paris has faced numerous challenges in recent years, but its unwavering spirit and resilience have allowed it to emerge stronger than ever. The city’s enduring appeal, combined with a robust government support system, has propelled its tourism industry back on track. As Paris prepares to host major international events in the coming years, the city is poised to once again shine brightly on the global tourism stage.
