9/11 Economic Factors

The September 11 attacks were set of four terrorist attacks controlled by al-Qaeda, an Islamic terrorist group. On September 11, 2001, four aircrafts were hijacked by the terrorists; two of the planes hit Twin towers in New York, third hit the Pentagon and the fourth one crashed into a field near Shanksville, Pennsylvania (“9/11 Attacks”). The September 11 attacks had several long-term negative effects that include Social effects, Psychological effects, Physical health effects, Economic effects and many more. But of all those effects, Economic effects were the most suffered ones. The 9/11 attacks triggered the devastation of American economy (Miley). Although it has been 12 years since the episode and America has recovered a lot, American

The airline industry is one of the largest global industries in the world. Airline companies in the airline industry have gone through challenging obstacles in the past decade. Many changes have occurred within the industry and increased regulations have driven up cost for the industry. The attacks on 9/11 left the industry in shock when planes were used in terrorist attacks in the United States. These attacks changed the mentality of the industry and shifted the focus towards safety. Safety was also a major concern in the industry with the breakout of SARS in 2003 and the H1N1 flu in 2009. The airlines had to ensure that public health and safety of the travelers were

September 11, 2001 was a very horrible day. The twin towers was hit by 2 planes. The 2 planes hit the sides , middle of the buildings. When the planes hit , their was people inside working. The planes hit like mid way through the building. The people was struck at the top of the building but the people who was below escaped. Some people was hurt or killed because of the planes and the buildings. Some thoughts of 9/11 still plays through people heads from time to time.

Before 9/11 no civilian ever expected or thought of a terrorist attack would occur at the World Trade Center in New York and the Pentagon in Virginia. On September 11, 2001, an Islamic extremist group called al-Qaeda, hijacked four airliners and performed multiple suicide attacks. The first two airliners were flown into the twin towers of the World Trade Center, the third hit the Pentagon, and the last airliner crashed in Pennsylvania as a result of the passengers fighting back against the terrorists. The aftermath of 9/11 caused a massive change in the economic, political and social aspects of not only the United States but other nations as well.

After 9/11 occurred the government had been worried about terrorists getting on more planes and killing more Americans, so they had created the Transportation Security Administration. The Transportation Security Administration is a government run security company just for the airports in the USA. They check your pockets, shoes, what’s in your bag, X-Ray your bags for more security so now instead of arriving 15 minutes before your flight, they recommend two hours before your arriving at the airport to take flight.

During 9/11 it dealt with its most difficult year. The United States had welcomed 60 million international visitors. 4.8 million more visitors than in 2009. The visitors who came to the United States injected more than $134.4 billion in the U.S. alone. Even with a strong recovery, the industry related employment has not recovered. The lack of demand for travel and tourism related goods took a major toll on this industry. In 2010 there was 44% total of overseas arrivals to the United States. The travel and tourism exports increased 12% when put up to 2009. In the international market many of the different places opened up for demand and ended up ranking in higher visitor spending percentages. Employment dropped 1.4% in 2010, 7.8% in 2009. There was nearly 112,000 jobs lost in 2010 due to it reducing its labor force by nearly 11 million.

The day of 9/11 sparked the attention of the aviation industry, citing that it will never be the same again. Different sectors

For my term paper, I am going to answer advanced question number 17 from chapter 6 on page 198. Within a few days after the September 11, 2001, terrorist attack on the United States, the Federal Reserve reduced short-term interest rates to stimulate the U.S. economy. How might this action have affected the foreign flow of funds into the United States and affected the value of the dollar? How could such an effect on the dollar have increased the probability that the U.S. economy would strengthen? (Madura, 2011) I will briefly describe about September 11 attacks in the following paragraph.

Decisions impact everything, even if it’s not your decision, it could still impact what you do. If it is something you don’t like, you can make the decision to argue. The other person can make the decision to argue back. Then, you two will make the final decision. Your decisions will affect people’s emotions. There are millions of decisions being made that affect people in all different ways, but 9/11 and drunk driving are very memorable events, that have been, or are all over the news.

On the morning of September 11, 2001, four hijackers carried out their plan of a terrorist attack on the United States. At about 9 A.M. on that day the first plane with hijacker, Mohammed Atta, crashed into the North Tower in New York City. Shortly thereafter the second hijacked plane crashed into the South Tower, alerting the United States that this was an act of terrorism. At 9:37 A.M., Flight 77 crashed into the Pentagon in Washington D.C., putting the United States on high alert and shutting down flights throughout the nation. The World Trade Center, including both the North and the South Towers, collapsed early that morning, not too long after being struck by the hijacked planes. While these acts of terror had immediate physical and emotional effects on the nation, the attack also had both short-term and long-term economic effects on the United States.

September 11, 2001, was a horrific event that rocked the world and the way people viewed the safety of airline travel. The airline industry was hit the hardest after that day and it was uncertain if they could regain their customer’s

P. Airlines are subject to extensive regulatory and legal requirements issued by The Department of Transportation and The Federal Aviation Administration. The industry has to comply with laws and regulations not only domestically but also internationally which requires significant spending. After 9/11, many new security measures have been put into practice, resulting in expenditures for equipment, training the personnel, federal and airport charges, security taxes and etc.

Some of the historical airlines, like Sabena and Swiss Air, could not withstand the economic depression closing down or not running on full service (The Economist, 2001). Whereas 'EasyJet publicized 82% rise in profits overcoming successfully the difficult times of September 11th' (The Economist, 2001). These

September 11, 2001 is a day that I will never forget what I was doing that moment when we witnessed the second plane hit the second tower I knew then we were under attack, it was the first time I have lived to witness a direct attack on U.S. soil. At this moment everyone knew that the U.S. was going to be yet another war in the in the Middle East (Africa). The economy changed dramatically post 9/11 America and we would soon discover that we were in the middle of a financial crisis our economy was slowly deteriorating. The history of the United States economy post 9/11 has transformed over time due to changes in government policies and regulations, advancement in technology and financial sectors has caused a wave of financial concerns.

Airline Industry is 500 billion dollars, creative and dynamic industry. In early 2001, airline business was going through very rough patch because of economic crisis