The Global Economic Impact Of Terrorism [Infographic]

Every year, terrorist attacks have a major impact on the world economy. According to the global terrorism index in 2017, the impact of 2016 decreased by 7% and decreased for the second consecutive year. Despite the decline, the cost of last year reached a tough test of 84 billion dollars. Since the Sept. 11 attack, the economic losses caused by terrorism varied greatly before reaching $ 41 billion in 2007, mainly due to violence in Iraq. With the rise of the Islamic state, the loss has increased further since 2012 and reached a peak of US $ 104 billion in 2014.

Countries involved in conflict often receive the greatest economic impact of terrorism. Most of them are in Middle East and North Africa, Sub-Saharan Africa and South Asia. Last year Iraq had the greatest economic impact on terrorism, accounting for 24% of GDP. Afghanistan is also suffering from terrorism, losses account for 13% of GDP, South Sudan makes up 9% of the third biggest impact.

Economic influence of terrorism since 2000 has three peaks, which are related to three big terror waves. The economic impact of terrorism has increased for the first time due to the significant increase in the attack on New York and Washington, DC on 11th September 2001. The second peak was the peak of the Iraq War of 2007. The increase in 2007 was mainly due to terrorist organizations affiliated with Al Qaeda, consistent with the rapid increase in Allied forces in Iraq. The third wave begins in 2012 and continues with the economic impact of terrorism reaching $ 105.6 billion in 2014. The increase over the last four years is mainly due to the increase in terrorism in Iraq, Syria and Afghanistan.

Countries involved in conflict often receive the greatest economic impact of terrorism. Most of them are in Middle East and North Africa, Sub-Saharan Africa and South Asia. Last year Iraq had the greatest economic impact on terrorism, accounting for 24% of GDP. Afghanistan is also suffering from terrorism, losses account for 13% of GDP, South Sudan makes up 9% of the third biggest impact.

Every year, terrorist attacks have a major impact on the world economy. According to the global terrorism index in 2017, the impact of 2016 decreased by 7% and decreased for the second consecutive year. Despite the decline, the cost of last year reached a tough test of 84 billion dollars. Since the Sept. 11 attack, the economic losses caused by terrorism varied greatly before reaching $ 41 billion in 2007, mainly due to violence in Iraq. With the rise of the Islamic state, the loss has increased further since 2012 and reached a peak of US $ 104 billion in 2014.