• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
France
Europe

French riots have cost $1.1 billion in damage to businesses and travelers are even canceling their vacation plans

By
James Regan
James Regan
and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
James Regan
James Regan
and
Bloomberg
Bloomberg
Down Arrow Button Icon
July 4, 2023, 7:00 AM ET
People demonstrate in Concorde on June 30, 2023 in Paris, France. A 17 year old was killed by police on June 27th during a traffic stop near Nanterre
People demonstrate in Concorde on June 30, 2023 in Paris, France. A 17 year old was killed by police on June 27th during a traffic stop near Nanterre.Ameer Alhalbi/Getty Images

President Emmanuel Macron will meet with more than 200 mayors to assess the riots that have rocked France as a massive police deployment led to a continued drop in the level of unrest overnight.

French employers’ lobby Medef estimated the cost of violence since the police shooting of Nahel, a 17-year-old of North African descent, last Tuesday at more than €1 billion ($1.1 billion), with 200 businesses looted, and 300 bank branches and 250 tobacco stores destroyed. The estimate covers businesses and doesn’t include damage to schools, town halls or community centers.

The violence has underscored long-running tensions over racism and inequality in the country, especially in ethnically mixed neighborhoods around cities and towns. The opposition at both ends of the political spectrum has seized on the crisis as evidence that the government is failing to ensure public safety and narrow economic disparity.

“The videos of the riots that circulated around the world hurt the image of France,” Medef head Geoffroy Roux de Bézieux told Le Parisien newspaper. “It’s always difficult to say if the impact will be long lasting, but there will certainly be a drop in reservations this summer, although the season had seemed promising. Many have already been canceled.”

Macron, who met with police and fire fighters overnight in a show of support, will meet with the mayors of more than 200 towns hit by violence later on Tuesday to discuss the situation.

The number of arrests continued to fall — dropping to 72 from a peak of more than 1,300 on Friday — as authorities maintained a deployment of 45,000 police and other forces across the country for a fourth night.

The number of vehicles burned or buildings damaged has dropped each night since peaking on Thursday, government data show. All told, close to 3,500 people have been arrested since unrest began a week ago.

Finance Minister Bruno Le Maire met with store owners in the town of Arpajon south of Paris to discuss the fallout from the crisis. Speaking to reporters, he said French insurers have agreed to extend the delay for store owners to make damage claims resulting from the riots to 30 days from five.

Insurers will also consider reducing the deductibles on claims for those independent businesses worst hit by the violence and have pledged to pay compensation as quickly as possible, Le Maire said. The government may in addition scrap social and fiscal charges for shop owners who’ve been the most impacted, he added.

“If your store has been burned to the ground and a life’s work has been reduced to ashes, the state must be by your side,” he said. “We’ll do everything necessary so that economic activity can calmly pick up again in our country as quickly as possible.”

In addition to going after official buildings, one attack in particular brought widespread condemnation — the ramming of a burning car into the home of the mayor of L’Hay-les-Roses, a Paris suburb. His wife and two young children escaped the house through a back door.

The unrest is another political minefield for the French president after he pushed through an increase in France’s retirement age this year that was preceded by months of strikes and protests. Images of riot police once again battling in the streets further tarnish the country’s reputation, potentially adding to the economic toll just as the government faces pressure to speed up debt reduction.

Labor unrest and street demonstrations happen regularly in France but have taken on a more intense and confrontational tone in recent years, reflecting divisions within French society. Before the pension protests and the pandemic, the so-called Yellow Vest movement caused widespread property damage. 

Nahel, whose last name has officially been withheld by authorities, was buried Saturday in Nanterre, his hometown where he was shot at close range in a car. The officer who fired the gun has been charged with murder and is in pre-trial detention. Laurent-Franck Lienard, a lawyer for the officer, told Europe 1 radio that the policeman believed he needed to shoot.

Join us at the Fortune Workplace Innovation Summit May 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.
About the Authors
By James Regan
See full bioRight Arrow Button Icon
By Bloomberg
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
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
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • 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
About Us
  • 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

Most Popular

placeholder alt text
Success
After decades in the music industry, Pharrell Williams admits he never stops working: ‘If you do what you love everyday, you’ll get paid for free'
By Emma BurleighFebruary 3, 2026
2 days ago
placeholder alt text
Politics
Peter Thiel warns the Antichrist and apocalypse are linked to the ‘end of modernity’ currently happening—and cites Greta Thunberg as a driving example
By Nick LichtenbergFebruary 4, 2026
1 day ago
placeholder alt text
Investing
Ray Dalio warns the world is ‘on the brink’ of a capital war of weaponizing money—and gold is the best way for people to protect themselves
By Sasha RogelbergFebruary 4, 2026
1 day ago
placeholder alt text
Investing
Tech stocks go into free fall as it dawns on traders that AI has the ability to cut revenues across the board
By Jim EdwardsFebruary 4, 2026
2 days ago
placeholder alt text
Crypto
Bitcoin demand in Nancy Guthrie disappearance shows how crypto is becoming a more frequent feature of physical crimes
By Carlos GarciaFebruary 4, 2026
1 day ago
placeholder alt text
Commentary
I've studied nonviolent resistance in war zones for 20 years and Minnesota reminds me of Colombia, the Philippines and Syria
By Oliver Kaplan and The ConversationFebruary 3, 2026
2 days 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.


Latest in

A person holding a blue piggy bank
Personal FinanceSavings
Best savings account bonuses for February 2026
By Joseph HostetlerFebruary 5, 2026
7 hours ago
lee
InvestingMarkets
Top analyst Tom Lee on gold’s black swan risk: Elon Musk becoming ‘the new central bank’
By Nick LichtenbergFebruary 5, 2026
7 hours ago
Sam Altman speaking into a mic.
AIOpenAI
OpenAI’s new model leaps ahead in coding capabilities—but raises unprecedented cybersecurity risks
By Sharon GoldmanFebruary 5, 2026
7 hours ago
Real EstateHousing
Rocket CEO says U.S. mortgage industry is a ‘tale of two cities.’ His booming business shows a broader reality for American homebuyers
By Sydney LakeFebruary 5, 2026
8 hours ago
tiktok
CybersecuritySocial Media
Gen Z is rebelling against TikTok USA by installing another app—founded by an Oracle alum
By Nick LichtenbergFebruary 5, 2026
8 hours ago
Healthmattresses
Helix Mattress Review 2026: Tested by Sleep Experts
By Christina SnyderFebruary 5, 2026
9 hours ago