Savoy - Economy |
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Some basic data |
Data | Value |
Total GNP (1997, estimation) | 24 000 millions USD |
GNP per inhabitant (1997, estimation) | 24 000 USD/inhab. |
Active population | 414 526 |
Unemployment rate | 9,50% |
Number of companies
|
106 574
|
Tourists/Year | 11 000 000 |
Touristic revenues/year | 6.86 billions EUR (45 billions FRF) |
Companies created (1996) | 6 082 |
External trade
(1996)
|
170 % |
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The Economic Framework |
Variety and diversity of the economic framework is deeply strong. The Savoy's activity is dealing with all economic sectors :
![]() | The primary sector (agriculture,
raw material production) employs 7 % of the active population (France 5 %, Italy 7
%, Switzerland 5 %, Slovenia 5 %). The population working in agriculture is decreasing,
but many efforts are done in the quality field. The majority of rawmaterials are imported,
apart hydroelectricity : Savoy is a net exporter of electric energy. |
![]() | The secondary sector (industry)
employs 24 % of the active population (France 29 %, Italy 28 %, Switzerland 33 %, Slovenia
46 %). All company sizes coexists, but the major part of the activity is related with
small and medium companies which represents a sufficient activity to prevent Savoy against
the dangers of mono-activity : |
![]() | The tertiary sector (all services)
employs 69 % of the active population (France 66 %, Italy 65 %, Switzerland 62%, Slovenia
49 %). |
Winter tourism is under control of big institutional investors and particularly the Compagnie des Alpes, owned by the French State (through the Caisse des Dépôts et Consignations). Compagnie des Alpes is controlling practically all the altitude resorts (those which are the more profitable) : Les Arcs, la Plagne, Méribel, Les Menuires, Tignes, Peisey-Nacroix, Argentière-Lognan, Flaine-Sixt-Morillon. 7.62 M EUR (50 M FRF) are withdrawn each year and sent to the Paris headquarters. In counterpart, the deficits of the medium altitude resorts, less profitable, are paid by the Savoyard taxpayers (7 M EUR, 46 M FRF only for Northern Savoy). Profits are for Paris, deficits for Savoyards.
The second homes are increasing, occupy the territory, increase the land speculation, create costs and do not bear to the community.
Social tourism allows to give to French customers holidays with an Austrian standing at a very low cost : Savoyards directly pay all collective equipments.
Spa resorts, in Savoy, became a French public service, with rules and fares determined by the Social Security system.
- the newspapers are controlled by external big press groups and dominated by conformism. Only some weekly with low circulation (le Faucigny, l'Echo de Savoie, l'Officieux des Aravis, le Journal,...) and the Geneva newspapers in Northern Savoy modify the context. In the audiovisual press, the situation is even worst. The TV tax is paid only for the French channels FRANCE 2 and FRANCE 3, with a clear contempt for Savoy. Practically all the radios depend from French national networks (the channels are distributed by a central French authority) ;
- banks, insurances, postal service, telecommunicatiosn, the operation of transport networks, water and cleaning up services are the the major commercial services proposed to the population and employ a big part of the staff ;
- administrations (local or no), leisure and culture activities, public services (education, scientific and technical research, health,security,...), the maintenance of the transport networks represent the major non-commercial services proposed to the public..
Savoy benefits from various assets :
![]() | a good transport and communication
network : |
![]() | a position facilitating
exportation, on two alpine transit corridors. |
![]() | exceptional
landscapes, improving
tourism since the XIXth century. |
![]() | a serious and competent manpower. |
Meanwhile, the economic life of Savoie, exceptionnally prosperous and active, is directly threatened by the coming French bankrupt.
The 20 first Savoyard companies are the following (Turnover and Results are expressed in millions FRF) :
Company | Activity | Implantation | Turnover (FRF) | Results (FRF) | Staff |
Entremont | Dairy | Annecy | 4 478 | 21,2 | 1 667 |
Salomon | Sport Equipment | Annecy | 4 420 | 214,2 | 1 463 |
Evian | Mineral water | Evian | 3 645 | 294,9 | 1 678 |
Tefal | Houselhold Electric Appliances | Rumilly | 3 210 | 180,1 | 2 078 |
Provencia | Supermarkets | Annecy | 3 088 | NC | 1 200 |
SNR Roulements | Bearings | Annecy | 2 234 | 81,1 | 2 742 |
Ugine Savoie | Steel | Ugine | 2 083 | 131,6 | 1 536 |
Bourgey Montreuil | Transports | Mery | 2 043 | -32 | 1 207 |
Comptoir Savoyard | Feeding | Alby sur Chéran | 1 808 | 14,4 | 298 |
Bianco | Oil | Ugine | 1 705 | 43 | 260 |
Léon Grosse | Public Works | Aix en Savoie | 1 536 | 10,5 | 2 014 |
Staübli France | Textile machines | Faverges | 1 382 | 71,6 | 890 |
Gillette France | Shavers | Annecy | 1 240 | -28,9 | 204 |
Hasbro France | Games | Le Bourget | 1 226 | 120 | 46 |
SOPRA | Data Processing | Annecy | 1 066 | 16,3 | 515 |
Vétrotex France | Glass Fiber | Chambéry | 792 | 24 | 1 430 |
Merlin Gérin | Electric Equipment | Montmélian | 747 | 315,8 | 427 |
Bollon | Timber | Chambéry | 722 | NC | NC |
SATM | Transports | Chambéry | 628 | 20,6 | NC |
La Rochette | Paper | La Rochette | 556 | 10,6 | 375 |
From : Rhône-Alpes Objectifs, July - September 1998.
Meanwhile, some Savoyard companies do not appear in this list if the "mother company" is in France and if the companies implemented in Savoy do not have any specific accountancy (which is, in particular, the case for the service companies).
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An international comparison |
Despite a small population, Savoy is far from being the smallest country in Europe and in the world if the GNP or the commercial results are considered :
Country | Total GNP (1996, millions USD) |
Commercial
Results (1996, millions USD) |
Moldova | 2 500 (population : 4 M inhab.) | - 312 |
Albania | 2 700 (population : 3 M inhab.) | - 665 |
Estonia | 4 500 (population : 1 M inhab.) | - 1 145 |
Latvia | 5 700 (population : 2 M inhab.) | - 887 |
Iceland | 7 200 (population : 0,3 M inhab.) | - 107 |
Lituania | 8 500 (population : 4 M inhab.) | - 1 125 |
Bulgaria | 9 900 (population : 8 M inhab.) | - 1 323 |
Croatia | 18 100 (population : 5 M inhab.) | - 3 276 |
Slovenia | 18 400 (population : 2 M inhab.) | - 1 276 |
Slovakia | 18 200 (population : 5 M inhab.) | - 2 617 |
Luxembourg | 18 850 (population : 0,4 M inhab.) | - 2 307 |
Vietnam | 21 900 (population : 75 M inhab.) | - 2 340 |
Belarus | 22 500 (population : 10 M inhab.) | - 2 336 |
Savoy | 23 000 (population : 1 M inhab.) | + 2 000 |
Nigeria | 27 600 (population : 115 M inhab.) | + 4 192 |
Bengladesh | 31 200 (population : 122 M inhab.) | - 3 324 |
With a GNP per inhabitant of around 23 000 USD/year, Savoy joins the group of the richest countries in the world.
Last update : 09/03/02