• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
Gilets Jaunes

Yellow Vest Riots in Paris Hit Economy With $1.1 Billion Retail Loss and Closed Tourist Sites

By
Erik Sherman
Erik Sherman
Down Arrow Button Icon
By
Erik Sherman
Erik Sherman
Down Arrow Button Icon
December 7, 2018, 11:07 AM ET

The “gilets jaunes,” or yellow vest violent protests in Paris are taking a heavy toll on the city and its economy. Major tourist attractions are closing on Saturday and retailers are losing sales.

French authorities are shuttering such sites as the Louvre and d’Orsay museums, the two operas, and the Grand Palais, according to NBC News. Four first-division soccer matches have been cancelled.

Retailers have lost 1 billion euros, or $1.1 billion, since the protests began in November, the French retail federation told Reuters.

Shop and restaurant owners near the Avenue des Champs-Élyséess and the Bastille are being asked by police to close Saturday. Authorities also plan to remove objects from the streets that protestors could use as projectiles.

The protests, named for yellow vests that drivers are required under law for roadside emergencies, began over an additional tax on diesel fuel proposed by French President Emmanuel Macron. The tax was supposed to be a tool to help the country transition to electric vehicles.

Although Macron withdrew the tax policy on Wednesday, the riots—some of the worst since 1968—have continued with right-and left-wing interests combined to escalate the actions.

Since the start, protests have broadened to a general opposition to Macron and neoliberal policies. “The average demonstrator in this protest is a working class person who wants to have an affordable lifestyle, wants the resignation of Macron, and is either centrist, sympathetic to the left or sympathetic to the right,” Dartmouth College historian Mark Bray told Fortune.

 

About the Author
By Erik Sherman
See full bioRight Arrow Button Icon

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

Middle EastIran
Trump gives Iran 48 hours on Hormuz, threatens power plants
By Jennifer A. Dlouhy and BloombergMarch 21, 2026
2 hours ago
Middle EastIran
Israel says ‘war is not close to ending’ as its nuclear research center is targeted for first time, hours after Iranian enrichment site was hit
By Samy Magdy, Melanie Lidman, Jill Lawless and The Associated PressMarch 21, 2026
3 hours ago
AIOpenAI
OpenAI plans to almost double its headcount this year, FT says
By Liza Tetley and BloombergMarch 21, 2026
4 hours ago
Arts & EntertainmentMusic
BTS begins comeback tour to reclaim status as one of the world’s biggest pop acts after completing Korea’s mandatory military service
By Juwon Park, Kim Tong-Hyung, Hyung-Jin Kim and The Associated PressMarch 21, 2026
4 hours ago
Middle EastIran
U.S. allows sale of stranded Iran oil to cap fuel-price rises
By Se Young Lee, Millie Munshi, Yongchang Chin and BloombergMarch 21, 2026
4 hours ago
Politicsarms, weapons, and defense
The U.S. has the world’s most advanced military, but the unforgiving economics of wars in Iran and Ukraine show quantity has a quality all its own 
By Jason MaMarch 21, 2026
5 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.