How real do you think the terrorist threat is to the commercial sector? Explain and justify your opinion In my opinion the terrorist threat to the commercial sector is a very real one which should not be overlooked. The commercial sector within the UK consists of a multitude of different industries that as a whole make up the UK economy, each industry conducts its business and trade by relying on the other to fulfill its supply and demand which is turn provides consumer confidence, that in itself is what the economy is based on which makes it susceptible and vulnerable whenever there is disruption to a sector So what is the definition of terrorism, they are many varied descriptions and ideas of what people have labelled as terrorism, for …show more content…
The Economic consequences of terrorism (Lenain, P (2002) stated that Private businesses suffered profound destruction of assets that was calculated in national accounts to amass to $14billion, state and federal government enterprises suffered a loss in the region of $2billion, what was also astounding to read was that the rescue and clean-up costs totaled to an amount of at least billion.
The OECD report also explains how as a result of the attacks on both the US and UK, both counties have become more vigilant by increasing their border controls.
This has slowed down the rate of supply at which goods are able to flow between countries and increased costs. Increased security checks at air, rail and seaports have seen delays for passengers and may impact the tourist industry as it impinges on travel plans. Many companies now choose to use video conferencing instead. The OECD goes on to explain that government spending policies have also shifted with more money now being spent on defense and security. The Al Qaeda attacks on the World Trade center and Pentagon .
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