The McDonalds boycott, stemming from its alleged support for the Israeli Occupation Forces (IOF), has had a significant impact on the fast-food giant’s sales in the Arab region and the Islamic world. The McDonalds boycott quickly led to financial losses of approximately $7 billion, as revealed by McDonalds Chief Financial Officer, Ian Borden. The company’s shares experienced a sharp decline of over 3 percent during Wednesday’s trading session, marking one of its most substantial daily losses in five weeks.
By Thursday, McDonalds stocks had plummeted by 3.37 percent, equivalent to $9.93, settling at $284.36. This staggering drop translated into a colossal loss of $6.87 billion for the renowned corporation. Borden’s statements were made amidst ongoing conflicts in the Middle East and subdued demand in China, which were predicted to result in a decline in international sales for McDonalds in the current quarter. He acknowledged that comparable sales in the first quarter within McDonalds licensed international developmental markets were expected to be “slightly lower” than the preceding three months.
McDonalds is not the only Western franchise facing backlash. Burger King, KFC, and Pizza Hut, along with brands like Coca-Cola, Pepsi, Puma, Starbucks, and Zara, have also been targeted. These companies are either known to openly support Israel or have financial ties with the country. The boycott against McDonalds and other brands reflects the growing tension over their perceived alignment with Israel amid the ongoing conflict.
The boycott comes in the wake of Israel’s war on Gaza, which has resulted in the deaths of over 31,000 Palestinians, with a significant number of casualties among children and civilians. The conflict has also led to the forced displacement of over 80% of the Gaza population. Additionally, UN reports have highlighted that dozens of children are dying from starvation in Gaza due to Israel’s blockade, which is severely restricting aid access and pushing Palestinian populations into famine.
