OpinionAgent

4 telltale signs that Paris’s wealth is returning

President Macron pro-business and entrepreneurship approach is helping fuel luxury renaissance
  • Amid a turbulent political climate, 12,000 millionaires moved out of France last year, but I believe things might be on the uptick due to Brexit, President Macron’s pro-business approach plus an emergence of Forbes, Louis Vuitton and upscale water fountains.

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There seems to be a re-emergence of the French affluent. I know that sounds a bit strange because Paris is known worldwide as the epicenter of luxury, but we have had our fair share of recent challenges. Like the United States, France has been hit by a rash of terrorist attacks, and we also had our own recent and incredible presidential election that featured Emmanuel Macron beating Marine Le Pen, who many believed would take France out of the European Union. Our affluent community, who also saw their taxes increased, had turned away. In fact, the Global Wealth Review earlier this year noted that France had more than 12,000 millionaires move out of the country in 2016, the most of any nation. My last two articles looked at the Russian affluent, but I wanted to return to Paris for this one because things seem to be changing for the better. Here are four reasons I optimistically believe we are turning a corner in France: London’s loss may be Paris’ gain The first reason...