Paris Tourism Lost $850 Million After ISIS Attacks

Paris Attacks France Eiffel
A soldier stands guard at the Eiffel Tower, Paris, November 15, 2015. The French Interior Minister said in a newspaper interview Sunday that hundreds of radical militants had returned to France. David Ramos/Getty Images

The Paris tourist trade has suffered a loss of 750 million euros ($850 million) since extremist attacks on the world's most-visited city left 130 people dead on November 13 2015, officials conceded on Tuesday.

A homegrown cell of the Islamic State militant group (ISIS) comprising eight suicide bombers and gunmen launched a coordinated assault on bars, restaurants, a concert hall and the country's national football stadium. The majority of the deaths occurred inside the Bataclan music venue where three extremists killed 89 people during an Eagles of Death metal concert.

Floods in June and strikes over labor reform were also notable factors in deterring foreign tourists from the French capital, but the emotional legacy of that night of horror is having a long-term impact on global demand.

"It's time to realise that the tourism sector is going through an industrial disaster. This is no longer the time for communication campaigns but to set up a relief plan," Frederic Valletoux, head of the Paris region tourist board said in a statement on Tuesday, Reuters reported.

The statement added that Japanese visitors had fallen 46.2 percent, Russian visitors were down 35 percent, Chinese visitors decreased 19.6 percent and Americans 5.7 percent for the first half of 2016 in comparison with the first half of the year.

The loss of revenue will be a blow to the almost 500,000 people who have a job related to the tourism industry in the Ile-De-France region. The tourism industry provides seven percent of the nation's GDP.

Junior Minister for Tourism Matthias Fekl said in July that occupancy rate in Paris hotels was just 32 percent, compared to 77 percent the year before. Similarly, hotels in Nice saw a drop of 45 percent in revenue following the truck attack that was also claimed by ISIS that left 84 people dead.