DUBLIN, April 15, 2020 /PRNewswire/ -- The "Coronavirus (COVID-19) Sector Impact: Payments Snapshot - France" report has been added to ResearchAndMarkets.com's offering.
This report focuses on the impact of the coronavirus outbreak on both the economy and the cards and payments industry in France.
Based on proprietary datasets, the snapshot provides a detailed comparison between pre-COVID-19 forecasts and revised forecasts of total payment card, debit card, and credit and charge card transactions by value and volume. It also offers information on measures taken by the government to combat coronavirus.
Fears surrounding the impact of COVID-19 have already significantly hampered the global economy, with key markets across the globe losing 20-50% of their value year-to-date. Many economists and institutions have cut their forecasts, with consensus global GDP growth currently at 2.6% for 2020 and many experts predicting the potential onset of recessionary environments.
A similar trend is expected in France as well, as economic growth in the country is expected to register a dip in the first quarter of 2020 and will decelerate further if this disease is not controlled at the earliest. The decline will have an adverse impact on all sectors including banking and payments.
- France's GDP has been revised downward for 2020 due to the economic disruption caused by the outbreak of coronavirus. There has been a sharp rise in the cancelation of flights, hotel bookings, and major cultural and sporting events including the International Tourism Trade show and Paris Book Fair.
- According to the French government, 2.2 million Chinese visitors spent a total of $4.4bn in 2019, and all the reservations made by Chinese visitors for 2020 have been canceled since mid-February.
- The decline in overall consumer spending precipitated by the outbreak and the lockdown in France will partially be offset by a rise in online payments.
Reasons to Buy
- Make strategic decisions using top-level revised forecast data on the French payment industry.
- Understand the key market trends, challenges, and opportunities in the French cards and payments industry.
- Receive a comprehensive insight into payments market in France.
Key Topics Covered
- COVID-19 Update
- Impact Assessment
- Total Payment Cards Market vs. Pre-COVID-19 Forecasts
- Debit Cards Payment Market vs. Pre-COVID-19 Forecasts
- Credit & Charge Cards Payment Market vs. Pre-COVID-19 Forecasts
For more information about this report visit https://www.researchandmarkets.com/r/jbd9fp
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SOURCE Research and Markets