DayofPal– The Boycott, Divestment and Sanctions Movement (BDS) has played a crucial role in the disruption of pro-Israel trades and economy, creating ripple effects in global market by significantly shifting consumer behavior and public opinion.
During the war on Gaza, increased pressure has been placed on countries or companies that export arms and military technology to Israel, leading to possible sanctions or restrictions on weapons sales, affecting global defense markets.
BDS also affects the global financial sector by encouraging investors to pull out of Israeli companies or funds that are linked to Israeli military atrocities in Gaza or the West Bank. This can lead to a reduction in foreign investment, which may impact Israel’s stock market and overall economic stability.
The sales of the Indonesia PT Unilever company have declined by 18% year-on-year in the third quarter of 2024 as the company topped the main BDS target list since the onset of the war on Gaza. In addition, the company’s net profit has dropped by 62% year-on-year. As part of response to the boycott, major changes in strategies were taken in the Indonesian market to address BDS impacts following the war on Gaza.
Starbucks global sales have declined by 7% between July and September 2024 compared to the same period last year. Following this fallout, the company is now looking to drastically change its strategies to regain customers.
McDonald’s which has appeared during the war as the main provider of meals to the Israeli army has got its global sales declined by 1.5% in the third quarter of 2024, marking the largest sales decline in four years. Not only that, its shares have also dropped by 1% in pre-market trading during 2024. In Egypt only, the company’s sales have declined by 70% due to BDS, according to Reuters.
Due to Jordanians’ massive reluctance to deal with pro-Israel Carrefour, the company declared this week that it has closed all its branches in Jordan in November 2024 after facing fierce BDS campaigns. Group of Majid Al Futtaim, who is the Chief of Carrefour’s purchasing operations in the Middle East, has experienced revenues decline by 4% year-on-year. Moreover, its profits have dropped by 15% in 2023.
The giant tech companies Google, Microsoft, Amazon have provided artificial intelligence services to the Israeli army through “Nimbus” project. This has pushed a number of Amazon employees to join internal BDS campaigns, which have increased fivefold during 2024. The BDS has damaged the reputation of these companies in international markets despite specific losses not having been disclosed.
Walt Disney is part of big companies that have been complicit in Israeli genocide in Gaza; it has provided $2 million to Israeli settlement organizations during the war on Gaza. Thus, due to BDS its stock value has dropped from $100 to $87 by September 2024. The company’s revenue has declined by $21.24 billion, below Wall Street’s expectations, marking the second annual decline since 2018.
Nestlé was forced to close one of its factories in illegal Israeli settlements during the war after its stock index had dropped below 88 between October 2023 and September 2024, without regaining its previous peak value. The company thereby has tried to make leadership changes and adjustments to its operational structure.
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