The September 11th attacks on the world trade organisation left the world in shock, changing the lives many individuals, organisations, countries and economies. It has affected the world of business and politics in many ways and these effects are still continuing to occur.
Following the attack, it was difficult for New York to derive the specific economic costs, hence making it harder for the American government to introduce plans aiming to resolve the situation. However after examining and quantifying the impact of the attack a leading team of New York economists and consultants have detailed the effects. The economic impact is likely to total to $83 billion in damage to New York’s
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Year 2002 GDP Economic growth
% Growth
World
1.82
Developed world
1.01
Transition world
4.19
Developing world
3.67
Specific industries were hit by the 9/11 events, in particular the airline industry. It can be said that no other industry was as immediately affected by the events of 9/11 as the airline industry. Demand for flights and holidays fell dramatically due to the fear of flying at such a fragile time, this hit the industry hard, causing sales to fall dramatically. As a result, a vast amount of jobs were lost at the worlds largest airline companies and only a government bail out prevented others from falling into bankruptcy. These include Sabena (Belgium), Swissair, Ansett Australia, and Vanguard Airlines (United States). The situation is however slowly improving, although stably not spectacularly. Much of the trust in the safety of air travel seems to have been regained a year after and some of the jobs have also been regained. However since the war on Iraq begun, consumers are again wary of air travel due to the risk of another attack.
Tourism was another industry hit hard. Some claim it was partly due to the slump in demand for air travel, which is the most common form of transport from one country to another. Overseas visits to the United Kingdom for example fell by 9% for 2001. Tourism is a
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
In 2009, United Press International, Inc. reports the aerospace and defense industry achieved a record $700 billion in spending. The defense market has experienced significant economic growth over the last decade due to large U.S. security spending in hopes to impact or end the global war on terrorism. The 9/11 attacks on the U.S. increased demand in the defense market while causing a decline in the airline industry. Airlines have suffered due to new security guidelines and a downturn in the
America has experienced some events that has made an impact on all of our lives. Take the attack on 9/11 for example; terrorists attacked the United States using planes. They hijacked four airplanes in mid-flight. The terrorists flew two of the planes into two skyscrapers at the World Trade Center in New York City. The impact caused the buildings to catch fire and collapse. Another plane destroyed part of the Pentagon (the U.S. military headquarters) in Arlington, Virginia. The fourth plane crashed in Shanksville, Pennsylvania. Officials believe that the terrorists on that plane intended to destroy either the White House or the U.S. Capitol. Passengers was the plane fought the terrorists and prevented them from reaching their goal. In all, nearly 3,000 people were killed in the 9/11 attacks. This attack reminded many people of the attack of Pearl Harbor. Both were very catastrophic events that changed U.S. History and America in a way that makes us realize that we need to be strong.
The September 11th, 2001 terrorist attacks forever changed the way our air travel industry operates. It affected the government, the airlines, airports, employees, and passengers alike. There was not as much of a threat of terrorism before 9/11, so airport security was not nearly as thorough, and at times intrusive as it is today. Through the creation of the Department of Homeland Security and the Transportation Security Administration, the evolving threat of terrorism has not been successful in carrying out another 9/11 style attack.
September 11, 2001 was a milestone in the history of the United States, which experienced a collective shock and trauma that has never been forgotten. In the United States most of all, the entire airline and tourist industry was driven to the edge of bankruptcy and would not have survived at all without a major bailout by the federal government. It was already in poor condition for many years after deregulation in 1978, the September 11th attacks were a Near Death Experience. After that time, the airlines decided that they could never permit another attack like this or they would be driven out of business. As it was, their stock prices collapsed and passenger schedules did not return to pre-September 11th levels for four years. All previous security plans were judged to be useless and inadequate, and were taken out of the hands of private security contractors and turned over to the federal government. New and more restrictive laws like the Patriot Act came into being, and the U.S. launched an all-out war on Al Qaeda that has continued for eleven long years.
One effect 9/11 had on the world was airplane security. Before 9/11 airports around the world followed their own security guidelines. Two months after the attack the Aviation and Transportation Security Act was set in place. In other words that act created the Transportation
September 11, 2001, millions of New Yorkers and American citizens woke up and started their day, unprepared and unaware for the catastrophic attack that would be taking place in just a few short hours. At 8:46 a.m., Eastern Standard Time, Flight 11 crashed into the North Tower. The impact killed all of the passengers and crew as well as hundreds inside the building. At 9:03 a.m., a second plane, Flight 175, crashed into the corner of the South Tower killing passenger, crew, and workers who worked on floors seventy-five to eighty-three. Flight 77 crashed into the Pentagon at 9:37 a.m. killing approximately 185 individuals (History.com Staff). Because of the damaged to the support system, fires, and impact at extremely fast speed, the South Tower collapsed at 9:59 a.m. (Lipton and Glanz). Having heard about the acts of terrorism that had just taken place in New York and Washington, D.C., a group of passengers drove their plane, Flight 93, into a Pennsylvania field killing everyone on board but possibly saving hundreds of other lives in the process. The North Tower collapsed at 10:28 a.m. 102 minutes after being struck (History.com Staff). On September 11, 2001, almost twelve hundred people were wounded or killed by “coordinated suicide attempts” by Al Qaeda terrorists. In result to the four airplanes being hijacked and used for premediated reasons, the United States government instituted new regulations for entering the country and airport security as well as expounded on systems already in place.
Before the attack on September 11th, Americans lived under the assumption that they had immunity from the world’s turmoil. But who could blame them; a foreign attack had not taken place on American soil since the war of 1812, not to mention, America’s greatest adversary, the Soviet Union, had disbanded nine years prior, leaving the US with no considerable enemies. Whatever the circumstances under which the September 11th attacks occurred, the resulting events would change commercial aviation in perpetuity and leave a lasting economic, militaristic, and humanitarian impact on the world.
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
The September 11th attacks have had a profound effect on American history. Often referred to as “9/11”, these attacks were comprised of a group of organized terrorists known as Al-Qaeda. This extreme Islamic group assaulted several landmarks in New York City, Washington D.C, and the state of Pennsylvania. In New York City, two airliner jets were hijacked with passengers aboard and slammed into the World Trade Center. “The next attack resulted in a plane colliding into the Pentagon, government building; the last attack was in Pennsylvania when a plane crashed into a field. In total, 3,000 people died on September 11th, 2001” (History.com Staff). The September 11th-attacks have affected airport security by the new training of flight attendants, the formation of the Transportation Security Administration and new technical advances to keep up with increased terror threats.
Whether or not the events of 11 September 2001 (9/11) fundamentally changed the character of international politics is still an open question. That things changed after 9/11 is undeniable,1 but only history can determine if particular events represent fundamental challenges to forms of life.
September 11th was the worst day for airline companies around the world. There was close to a 20% drop off in airline traffic in the fourth quarter of 2001. The U.S. commercial airline industry was in turmoil and
On the other hand governments support aviation industry by building airports, roads and hotels near airports, because they recognize this industry as an important ingredient for economic well-being. In addition governments arrange security at the airports to ensure safe journey. The terrorist attacks of September 11, 2001 have had negative implications for the industry. Over the years, all the airlines have changed their routes, marketing tactics and prices; they are also making an effort to reduce the fear and negative image associated with air-planes. Governments have imposed strict security checks on air travel passengers in order to avoid any unforeseen terrorist activity.
Acts of terrorism has greatly affected multiple countries, including the United States. The horrific events that took place on 9/11 left the American people shocked, devastated, and furious. Many innocent American’s lost their lives on this infamous day. While airports and airlines are not free from security breaches, a set of new security measures and requirements have been implemented by the International Air Transport Association and the International Civil Aviation Organization (Beirman, 2011). Increased security at airports and airlines, have left terrorists to target more vulnerable areas such as tourist destinations. Attacking tourists’ spots such as hotels, restaurants, nightclubs, conference venues and other forms
The state of the industry since September 11, 2001 is as follows: Airlines have experienced two point one billion in losses and more than one hundred thousand layoffs. Employment domestically has experienced a ten percent drop in demand and employment globally has experienced a thirty percent drop in demand. Hotels have experienced a two billion dollar lost in room revenue and meeting room and convention industry has experienced a one billion dollar loss. As a whole the entire Travel and Tourism industry have experienced an enormous drop in revenues.