Since the Nov. 13 terrorist attacks in Paris, hotels in the city have seen occupancy rates drop as much as 30%. Flight reservations are down 27%.

A government estimate of the damage to France’s economy tops $2 billion.

With images of the attacks and a militarized response circulating the globe, the sharp drops are not surprising — but Paris depends on tourists. And the appearance of turmoil following the deadly attacks can continue to do economic damage, even as the city returns to normalcy.

The tourism industry employs some 260,000 people in the city, or 20% of the full-time workforce: Visitors spent $17 billion in Paris in 2014. In all of France, tourism represents nearly 10% of GDP, supporting almost 3 million jobs. Which is why, amid mourning and the political response to the threat of the Islamic State, tourism industry leaders met with French Prime Minister Manual Valls last week to discuss how to approach the holiday season. Read more…

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