Economic+Impacts

** __ Introduction to 7 July 2005 London Bombing __ ** The London terrorist bombings, that occurred on July 7, 2005, have altered the perspective on terrorism. This terrorist attack caused direct and indirect impacts on the social, economic, and political structures of the UK and other states. This attack has many different implications for organizations dealing with security, intelligence, and businesses. This event can encourage these organizations to learn lessons and investigate the global trend of terrorism. The terrorist attack on July 7, 2005 aimed to directly disrupt London’s transit system and indirectly disrupt England’s stability. Global financial markets is affected, stocks fell greatly, affecting the currency rate of the country and this contributes tremendously to the impact to the economy. However, not only the financial market and exchange rate activity was affected. It discourages tourism, The Office for National Statistics (ONS) found a 2% fall to 3.7 million in the three months to September, compared to the previous year. The drop contrasts with an average 12% increase in foreign visitor numbers in the two previous quarters. Overall, the number of foreign visitors to the UK as a whole in the twelve months ending with November 2005 rose 10% to 30 million. However, the economic impact was not even close to the devastation of the 9/11 attacks. This is mostly because of lessons learned from the 9/11 attacks. Thus, the London attacks didn’t destroy financial infrastructure The Office for National Statistics (ONS) found a 2% fall to 3.7 million in the three months to September, compared to the previous year. The drop contrasts with an average 12% increase in foreign visitor numbers in the two previous quarters. Overall, the number of foreign visitors to the UK as a whole in the twelve months ending with November 2005 rose 10% to 30 million. ____________________  ** Introduction to Madrid Bombing ** On 11 March 2004, a series of bombs exploded within minutes of each other on four commuter trains in the Spanish capital Madrid. The blasts killed 191 people and 1,841 were wounded. It was considered as the worst terror attack in Europe ever since the Lockerbie bombing in 1988. Seven of the key suspects - including the alleged mastermind, Tunisian Serhane ben Abdelmajid Fakhet - died in an explosion at a Madrid flat in April 2004 as police were closing in on them. A policeman also died. Twenty one people, mostly Moroccans, were convicted of involvement in the attacks. Three of the key defendants received maximum jail sentences. ** Economic Impact on Madrid bombing:  ** The impact of terrorism during the 2004 bombing in Madrid has cause tremendous impact on the oil and tourism industries and financial institutions. It had also sent shockwave through global markets and broadened economic concerns that were added to the renewed threat of terrorism which are expected to weigh heavily on markets. Tourisms industry had been declining greatly due to the terrorist attacks as tourists were afraid about the sudden attack and the danger to traveling to Madrid. As a result, people will hesitate on whether to travel to Madrid for fear of terrorisms. Not only that, investors of other countries will also hesitate about investing in Spain as they were afraid that the sudden terrorist attacks can cause economic downturn to the country and therefore, affecting their investment. The bombing incident had also resulted in damages to the infrastructures in Madrid (public train) and a lot of money is needed to repair and rebuild the infrastructure. Besides this, stocks and investments made in the country had decline greatly and caused huge loss to the Spain market as well as the global market. And this had huge impact and consequences on the country economy.  **__ Bali __****__ Bombing 2002 __**  ** Introduction ** The bomb explosions in Bali on the night of 12 October 2002 were a shocking and unexpected event for most Australians and raised many questions about Australia's international and domestic security policies, particularly since the US campaign in response to the attacks of September 11 2001. One of the bombs exploded at a nightclub in Kuta Beach, the island's main tourist resort. Another smaller explosion occurred in nearby Denpasar, Bali's capital, close to the United States Honorary Consulate. ** The Economic Impact ** One of the many important concerns created by the Bali bombings is the effect on the Indonesian economy. The most obvious effect is the damage to tourism on the island of Bali. Tourism industry is the main source of income for Bali where jobs are provided. It slumped badly after the economic and political crises of 1997 and 1998, but Bali had been relatively immune from negative perceptions. Tourists from countries like Australia avoid travelling to Bali due to the accident. But apart from the immediate effect on the tourism industry, the Bali explosions are likely to add to Indonesia's already serious problems with lack of foreign investment. Without new investment, sustained growth will be impossible, especially since five years of no investment in infrastructure such as power generation has left the economy with emerging structural weaknesses. // __ credits: [|http://wikipedia.org]  __ // // __ [] __ // // __ [] __ // // __ [] __ //
 * __ Economic Impacts __ **
 * __ Economic effects of the 7 July 2005 London bombing __ **