• 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
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

© 2025 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

Photo of Scott Galloway
SuccessCareer Advice
Scott Galloway says the key to landing jobs is be as social as possible: ‘70% of the time, the person they pick is someone with an internal advocate’
By Dave SmithDecember 27, 2025
16 minutes ago
SuccessCareer Advice
Cisco’s top exec and Amazon’s Andy Jassy share the same hiring red flag—and it’s something that can’t be taught
By Orianna Rosa RoyleDecember 27, 2025
21 minutes ago
PoliticsDonald Trump
Kennedy Center seeks $1 million in damages from musician who canceled performance after Trump name added to building
By Steven Sloan and The Associated PressDecember 27, 2025
2 hours ago
PoliticsTrains
California drops lawsuit to reinstate federal bullet train funding as high-speed rail authority seeks private investors
By Sophie Austin and The Associated PressDecember 27, 2025
2 hours ago
North AmericaFlights
Winter storm cancels more than 1,000 flights in the Northeast and Great Lakes regions as state of emergency declared in N.Y., N.J.
By Leah Willingham and The Associated PressDecember 27, 2025
2 hours ago
Federal Reserve Gov. Chris Waller engages 200 top CEOs at the Yale CEO Summit in December, 2025. (Photo courtesy of the Yale Chief Executive Leadership Institute/Photographer Donovan Marks)
CommentaryFederal Reserve
Why over 80% of America’s top CEOs think Trump would be wrong not to pick Chris Waller for Fed chair
By Jeffrey Sonnenfeld and Steven TianDecember 27, 2025
2 hours ago

Most Popular

placeholder alt text
Retail
Trump just declared December 26th a national holiday. What's open and closed?
By Dave SmithDecember 26, 2025
1 day ago
placeholder alt text
Success
As millions of Gen Zers face unemployment, CEOs of Amazon, Walmart, and McDonald's say opportunity is still there—if you have the right mindset
By Preston ForeDecember 26, 2025
1 day ago
placeholder alt text
Investing
Logan Paul auctions off $5.3 million Pokémon card, urging young people to invest more in nontraditional assets: 'Don't be afraid to take a risk'
By Sydney LakeDecember 25, 2025
2 days ago
placeholder alt text
Real Estate
Mark Zuckerberg gifted noise-canceling headphones to his Palo Alto neighbors because of the nonstop construction around his 11 homes
By Dave SmithDecember 25, 2025
2 days ago
placeholder alt text
Success
Billionaire philanthropy's growing divide: Mark Zuckerberg stops funding immigration reform as MacKenzie Scott doubles down on DEI
By Ashley LutzDecember 22, 2025
5 days ago
placeholder alt text
Economy
Trump's tariffs actually slashed the deficit from a record $136.4 billion to less than half that. Here's what else they did
By Wyatte Grantham-Philips, Paul Wiseman and The Associated PressDecember 26, 2025
24 hours ago