Impact Of 9/11 On Tourism
Cost of terrorism –
Effect of the September 11 attacks on tourism industry:
1The total economic impact of 9/11 is realistically immeasurable; however the world travel and tourism council has estimated the decrease of the travel and tourism demand world wide to be 10%.
2Job loss of 8.8 million people globally including airlines, hotels, tour operators, car rental and credit card companies, creating a 1.7% decrease of total GDP for the world economy.
Terrorism is an inhuman act which is against the law of any land or government of states. The world had witnessed acts of terrorism in the US, UK and more recently in India which have constituted as major events. The World Trade Centre and London bombings have been significant events in the history of mankind but to boost the acts further, the Mumbai terrorist attack was a unique one since it was a direct urban attack and not just bombs planted aimed at causing mayhem in a small amount of time.
The impact of terrorism on the world economy in the era of interdependence is deeply felt in the processes of globalization and liberalization polices. The 9/11 terrorist attacks was an awakening call to the civilized world …show more content…
They might defer their investment plans, but will not cancel them totally. Consumers are unlikely to change their consumption patterns and businesses are unlikely to alter their investment plans. However, the government needs to act decisively and revive confidence; otherwise it could make investors tentative and undermine India’s economic progress in the short term. The short- and medium-term impact of this terror strike on the Indian economy will be small. In the longer term, the impact of this crisis will be depend on whether we are able to upgrade our intelligence and security infrastructure and prevent a repeat in the near future. For India, this will remain a tragedy or an opportunity wrapped in
Effect of the September 11 attacks on tourism industry:
1The total economic impact of 9/11 is realistically immeasurable; however the world travel and tourism council has estimated the decrease of the travel and tourism demand world wide to be 10%.
2Job loss of 8.8 million people globally including airlines, hotels, tour operators, car rental and credit card companies, creating a 1.7% decrease of total GDP for the world economy.
Terrorism is an inhuman act which is against the law of any land or government of states. The world had witnessed acts of terrorism in the US, UK and more recently in India which have constituted as major events. The World Trade Centre and London bombings have been significant events in the history of mankind but to boost the acts further, the Mumbai terrorist attack was a unique one since it was a direct urban attack and not just bombs planted aimed at causing mayhem in a small amount of time.
The impact of terrorism on the world economy in the era of interdependence is deeply felt in the processes of globalization and liberalization polices. The 9/11 terrorist attacks was an awakening call to the civilized world …show more content…
They might defer their investment plans, but will not cancel them totally. Consumers are unlikely to change their consumption patterns and businesses are unlikely to alter their investment plans. However, the government needs to act decisively and revive confidence; otherwise it could make investors tentative and undermine India’s economic progress in the short term. The short- and medium-term impact of this terror strike on the Indian economy will be small. In the longer term, the impact of this crisis will be depend on whether we are able to upgrade our intelligence and security infrastructure and prevent a repeat in the near future. For India, this will remain a tragedy or an opportunity wrapped in