Tourism VS Terrorism

I’m not much of an economist , but if there is one thing I know among many others in economics is that tourism and terrorism are two major factors that shake the sane economic status of any country .Even though both factors aren’t humanly intended to go with each other ,one doesn’t seem to have much of an impact on the other as we all imagine . A recent study issued by World travel and tourism council (WTTC) stated that even though there is a lot of terrorism around the world , people still travel and expect the government to take measures against these inevitable disruptions.

 The recent attacks in London and Manchester had some major impact on the people , making them feel that there is not any safe place to travel to in this world and how times have changed .But terrorism still remains just one factor that affects the growth rate or tourism in any country . other threats like cyber terrorism , local-violence , spread of diseases , political unrest etc . are just some among the many other factors that could affect the tourism section of a country . According to WTTC it takes 21months to tourism to recover from a medical epidemic , 24months incase of an environmental disaster and 27months for political instability . Recovery would take much longer in the case of natural disasters because of the requires for rebuilding the infrastructure

 Obviously any sane country would support tourism over terrorism as it encourages economic growth and the other doesn’t and work towards putting tourism over terrorism  . In the year 2014 , the Institute of Economics and Peace put the cost of terrorism at $52billion .The 9/11 attacks in New York cost $27.2billion, but other sources beg to differ and state it cost around $3.3 trillion from including in direct and long-term expenditure.

Terrorist attacks always has an immediate impact on the short-term markets . Investors confidence is one of the most obvious consequences of such , Consumers cancelling their tickets from travelling , air-ports , hotels , restaurants etc would affect the revenue of the country .Even though terrorism affects a major portion of a country’s economy , some countries like USA are known to be very resilient to these attacks . after the 9/11 attack in New York GDP dropped by half a percent point while the stocl market recovered within a month . But for some countries like Egypt which aren’t much resilient terrorism remains a major reason to the diminishing economic growth rate , since Egypt relies manly on tourism for its income , constant terrorist activities discourages tourism in the region . Looking at the impact of terrorism on a long-term basis the chances for a well developed country to recover is most likely and easy , plus tourism can never be stopped by usually postponed .

 In some cases the level of tourism would increase in one country because of increase in terrorist activities in another country, as people might feel safer in a different country .Migration is also something that could happen because of increase in terrorism .

In conclusion I would say tourism and terrorism are two factors  that wont fit in a country at the same time , unless people have a different definition the word tourism or the existence of a bunch of insane enthusiastic people in the world .