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The Financial Cost of Terrorism in Europe
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The Financial Cost of Terrorism in Europe


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7

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  • Eye Opening
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Recommendation

Terrorism has profound, multidimensional effects on individuals and society as a whole. For the European Union, the economic losses just from foregone wages from injuries and medical care are staggering. Research finds that, beyond direct costs, terrorist incidents can influence individuals’ patterns of spending and investment. getAbstract recommends this succinct but worthwhile article from the World Economic Forum to anyone interested in the sobering statistics on terrorism’s economic damage.

Take-Aways

  • Numerous attacks have made the issue of terrorism an ongoing subject of citizens’ and governments’ attention in the European Union. 
  • Terrorism has adversely influenced EU economic growth. From 2004 through 2016, attacks cost EU member states approximately €180 billion in GDP [$210.1 billion]. 
  • In the same period, terrorism’s human and physical capital costs took the form of lost wages, medical expenses and property damage of an additional $5.6 billion. 

About the Author

The World Economic Forum is an independent global organization that engages leaders of business, politics, academia and society to improve the state of the world.


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