The Yellow Vests movement might be “the people speaking out,” but it leaves behind—and it’s probably not over yet—a hefty bill that the Ministry of Economy estimates at 0.1% of the GDP, which is nearly 2 billion euros.
At the local level, the calculation is more uncertain, but it remains significant as made public by the territorial Chamber of Commerce and Industry (CCI).
The Chamber of Commerce and Industry Nice Côte d’Azur has just conducted a study* on the economic impact of the Yellow Vests movement, which has been submitted to the State services.
The initial results confirm a concerning economic situation: a drop in revenue exceeding 10%, with supply difficulties confirmed for 58% of businesses.
The retail sector is particularly affected: 78% of retailers report a drop in revenue greater than 10%, and more than 15% report a decrease of over 50%.
In response to this situation and with the approach of the Christmas holidays, which represent a crucial period for retailers (54% of surveyed retailers risk facing short-term difficulties), the Chamber of Commerce and Industry Nice Côte d’Azur is launching the “Yellow Vest Impact Unit” to identify and centralize the requests of affected businesses.
Contact information: A dedicated number: 04 93 13 75 73 / An email: allocci@cote-azur.cci.fr
