Marseille - Economy

Economy

Historically, the economy of Marseille was dominated by its role as a port of the French Empire, linking the North African colonies of Algeria, Morocco and Tunisia with Metropolitan France. The Old Port was replaced as the main port for trade by the Port de la Joliette during the Second Empire and now contains restaurants, offices, bars and hotels and functions mostly as a private marina. The majority of the port and docks, which experienced decline in the 1970s after the oil crisis, have been recently redeveloped with funds from the European Union. Fishing, however, remains important in Marseille and the food economy of Marseille is still dominated by the local catch, and a daily fish market is still held on the Quai des Belges of the Old Port.

Today, the economy of Marseille is dominated by the New Port, which lies north of the Old Port, a commercial container port and a transport port for the Mediterranean sea. 100 million tons of freight pass annually through the port, 60% of which is petroleum, making it number one in France and the Mediterranean and number three in Europe. However, its recent growth in container traffic is being stifled by the constant strikes and social upheaval. Petroleum refining and shipbuilding are the principal industries, but chemicals, soap, glass, sugar, building materials, plastics, textiles, olive oil, and processed foods are also important products. Marseille is connected with the Rhône via a canal and thus has access to the extensive waterway network of France. Petroleum is shipped northward to the Paris basin by pipeline. The city also serves as France's leading centre of oil refining.

Marseille is a major French centre for trade and industry, with excellent transportation infrastructure (roads, sea port and airport). Marseille Provence Airport, is the fourth largest in France. It is the main arrival base for millions of tourists each year and serves a growing business community. All three universities of Aix-Marseille—the University of Provence, the University of the Mediterranean and Paul Cézanne University—are represented to varying degrees in both Marseille and Aix-en-Provence, forming France's second largest research centre with 3,000 research scientists.

The Marseille region is home to thousands of companies, 90% of which are small businesses. Among the most famous ones are CMA CGM, container-shipping giant; Compagnie maritime d'expertises (Comex), world leader in sub-sea engineering and hydraulic systems; Eurocopter Group, an EADS company; Azur Promotel, an active real estate development company; La Provence, the local daily newspaper; L'Olympique de Marseille, the famous football club; RTM, Marseille's public transport company; and Société Nationale Maritime Corse Méditerranée (SNCM), a major operator in passenger, vehicle and freight transportation in the Western Mediterranean.

In recent years, the city has also experienced a large growth in service sector employment and a switch from light manufacturing to a cultural, high-tech economy. Marseille acts as a regional nexus for entertainment in the south of France and has a high concentration of museums, cinemas, theaters, clubs, bars, restaurants, fashion shops, hotels, and art galleries, all geared towards a tourist economy.

In May 2005, the French financial magazine L'Expansion named Marseille the most dynamic of France's large cities, citing figures showing that 7,200 companies had been created in the city since 2000.