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Question 8c
Examine the impact of two of the following on the development of footloose industries or financial services or mass tourism in a developed economy that you have stud... show full transcript
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Physical factors have a significant impact on the development of mass tourism in France. The diverse geographical features, such as the French Riviera, the Alps, and historical landmarks like the Eiffel Tower, attract millions of tourists annually. Adequate natural resources, including beautiful beaches and mountain ranges, promote outdoor activities such as skiing and hiking, enhancing France's reputation as a premier tourist destination.
Additionally, the transportation infrastructure, including international airports and high-speed trains, facilitates easy access for tourists, further boosting the tourism industry. This ultimately leads to economic growth and job creation in various sectors associated with tourism, such as hospitality and retail.
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Political factors also play a crucial role in shaping the development of financial services in France. The stable political environment and strong government policies create a favorable climate for investment and business operation. For example, Paris is known as a financial hub due to robust regulatory frameworks that govern banking and financial services.
Moreover, initiatives to promote foreign investment and ease of doing business, such as tax incentives and support for startups, attract global companies to establish their operations in France. This not only supports the growth of the financial sector but also contributes to job creation and economic stability in the region.
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