Three weeks of “yellow vest” protests have hit the French economy hard, with trade in shops, hotels and restaurants falling significantly, Finance Minister Bruno Le Maire said Dec. 3.
Speaking after a meeting with industry groups and business federations affected by the protest movement, Le Maire said sector revenues had been hit by between 15 and 50 percent.
While not providing a precise breakdown, Le Maire said small retailers had seen a fall in revenue of between 20 and 40 percent, and the hotel industry was seeing reservations down 15 to 25 percent.
Restaurants, depending on their location, had seen takings collapse by between 20 and 50 percent.
“The impact is severe and ongoing,” Le Maire said, emphasizing it was nationwide, although Paris, after riots and looting in some of its most upmarket districts on Dec. 1, was particularly affected.
The movement began Nov. 17 as a social-media-planned protest against fuel-tax rises, but has become an uprising against President Emmanuel Macron. (Reuters)