France's Riots: Impact on Economy and Tourism
The recent riots in France, triggered by various immediate causes, highlight underlying discontent in the population. Rising food prices, with a 22% increase since 2021, and declining food consumption of nearly 17% have contributed to this unrest. The decline in food consumption disproportionately affects the poorest, who spend a higher proportion of their income on food. Fertilizer shortages, caused by sanctions against Russia, are likely responsible for the rising food prices. These dynamics are creating a febrile situation across Europe, with rising food prices and falling consumption serving as effective predictors of social unrest.