Impact of 9 11 on the economy

That consensus fragmented over Iraq. It can take three months for a Brazilian to get a tourist visa to enter the U.

Approximately 18, small businesses were destroyed or displaced after the attacks. From Yemen and Somalia to Pakistan and the Maghreb, these groups could take advantage of chaos or disillusionment if the ongoing Arab transition fails to deliver real results.

As terrorists and all who collaborated with them were targeted, the fear of B52 war planes persuaded many warlord commanders to shave or shorten their beards and dress like democrats in black suits — but as we have subsequently seen, many of them remained the same on the inside.

But the Center for Risk and Economic Analysis of Terrorism Events concluded that overall, economic resilience overcame fear. Other studies provide lower estimates [source: Tourismhotel occupancy and air travel also fell drastically across the nation.

Economic effects of the September 11 attacks

They launched vastly expensive wars, in money and lives. The destruction of the twin towers graphically illustrated the dark side of globalisation.

GDP in the six years through was about a third of one percent. From paved roads to girls going to school, to historical record-breaking media development, there have been positive developments. The Arab spring has now rendered it almost irrelevant.

Germany passed a bill forcing communication companies to install surveillance software to ease the interception by authorities, if the need arose. Other losses occurred because security concerns raised the price of oil and may have affected the flow of investment dollars into the U.

This affects individuals living in the U.

What was the economic impact of September 11?

Air travel was suspended, the New York Stock Exchange was closed for four days, and consumer confidence plummeted. Electronic Privacy Information Center EPIC claimed that the Patriot Act was unconstitutional, especially since there was a chance that law abiding, non threatening citizens might have their communications accidentally intercepted.

Furthermore, global entities such as the UN have created new divisions for counter-terrorism operations. He saw widespread hostility towards the west and its aggressive behaviour in the Muslim world.

Once we start discussing indirect economic effects, the numbers become staggering. Al-Qaida has been a non-factor in the Arab spring. Ina small battery-run radio was the only means of communication in most of the country. The forecasters were too pessimistic. Fortunately, they failed to provoke our societies into closing their borders and hunkering down at home and instead we reacted with a greater willingness to engage internationally.

We all know how that turned out. He cited a global survey by the Discover America Partnership that found more travelers were afraid of U. It's virtually impossible to put a single, final number on the economic impact of 9/11, but it's surely in the trillions of dollars.

For more information on the effects of the 9/11 attacks, see the links below.

What was the economic impact of September 11?

Ten Years Later: The Global Impact of the Attacks On September 11,a series of coordinated terrorist attacks were carried out on United States soil that would forever change the landscape of the international community.

There was an immediate impact to the economy from the September 11,attacks, especially in New York but across the nation. There were some businesses in the destroyed World Trade Center; many lost employees, and more than 1, businesses in the area that were forced to close.

Economic effects arising from the September 11 attacks

The economic effects were mainly focused on the city's export economy sectors. The 9/11 attacks also had great impact on small businesses in Lower Manhattan, located near the World Trade Center. Approximately 18, small businesses were destroyed or displaced after the attacks.

By this approach, the immediate impact of the 9/11 attack was to reduce real GDP growth in by %, and to increase the unemployment rate by % (reduce employment byjobs.).

Economic Cost of 9/11: Three Industries Still Recovering

21 Research. Human Rights Abuses Abound Post 9/11/ 22 “ Amnesty International: Human Rights Report.” 23 Research. Human Rights Abuses Abound Post 9/11/ 24 “ Guantanamo Bay: An Abuse of Power and a Violation of Human Rights.” Peaces of the World, 25 United States House of Representatives.

Impact of 9 11 on the economy
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