The Eiffel Tower (French: La Tour Eiffel, [tuʁ ɛfɛl]) is an iron  lattice tower located on the Champ de Mars in Paris, named after the engineerGustave Eiffel,whose company designed and built the tower. Erected in 1889 as the entrance arch to the 1889 Worlds Fair, it has become both a global cultural icon of France and one ofthe most recognizable structures in the world. The tower is the tallest structure in Paris  and the most-visitedpaid monument in the world; 7.1 million people ascendedit in 2011. The third level observatorys upper platform is at 279.11 m the highest accessible to public inthe European Union and the highest in Europe as long as the platform of the Ostankino Tower, at 360 m, remains closed as a result of the fire of August 2000. The tower received its 250 millionth visitor in 2010.
Maintenance of the tower includesapplying 50 to 60 tonnes of paint everyseven years to protect it from rust. Theheight of the Eiffel Tower varies by 15 cmdue to temperature.
The American TV show Pricing the Pricelessspeculates that in 2011 the tower would cost about$480,000,000 to build, that the land under thetower is worth $350,000,000, and that the scrapvalue of the tower is worth $3,500,000. The TVshow estimates the tower makes a profit of about$29,000,000 per year, though it is unlikely that theEiffel Tower is managed so as to maximize profit.It costs $5,300,000 to repaint the tower, which isdone once every seven years. The electric bill is$400,000 per year for 7.5 million kilowatt-hours.The Tokyo Tower in Japan is a very similar structureof very similar size. It was finished in 1958 at a finalcost of ¥2.8 billion ($8.4 million in 1958).