The most devastating attack occurred on September 11, 2001.
September 11, 2001, occurred the most ambitious, disruptive and expensive terrorist attack in history. The attacks always entail high costs required to maintain the health of victims and recovery of property.
All this, of course, has a huge destructive impact on the country’s economy, which suffered terrorist attacks. They also affect the world economy, depending on the nature of the crime.
First and foremost it should be noted that direct economic costs of a terrorist attack, including the damage caused to the victims, the government, restoration costs, insurance costs, the costs of counter-terrorism measures, the cost of rehabilitation of the victims and other expenses that may cause significant damage to the economy of the affected country.
Also, you should take into account the indirect costs associated with the fall of the dollar and oil prices.
And if the attack itself – a phenomenon transient, its effects can be felt for years to come. For example, the damage caused during the September 11 attacks, turned into a costly war with Iraq and led to a number of other economic impacts. The country was forced to increase expenditure on security. Australia, for example, since 2001, spent about $21.3 billion on defence and help in the war in Iraq.
Other indirect costs may arise on the background of the loss of revenue from reduced tourist flow. For example, the terrorist attacks at hotel Taj Palace in Mumbai in 2008 affected the tourism sector in the city and indirectly affected the economy of India.
The hijacking of planes on “Dozens field”, Jordan, 12 September 1970
Economic damages: $165 million
Four aircraft were captured and subsequently blown up by Palestinian militants at an air force base in Jordan. Passengers was released on 30 September. The insured property losses totaled $165 million
The terrorist attack at the airport “Colombo”, Sri Lanka, 24 July 2001
Economic impact: $517 million
The explosion in 2001, committed by the “Tigers of Tamil Eelam” at the international airport “Colombo”, people died, were destroyed 8 military aircraft and 3 passenger liner. Estimated damage to the insured property amounted to about $517 million
The attack near the Docklands light railway, metro, London, 9 February 1996
Economic damage: $336 million
Paramilitary group the IRA has claimed responsibility for the attack in the area the Docklands light railway, the underground in London in February 1996, which destroyed a 6-storey building and killed 2 people. Damage to the insured property amounted to as much as $336 million In a suicide attack exploded a half-ton bomb in the truck, blow the bombs were felt a half a mile away. Also the result of the explosion was a 17-month cease-fire that was reached by the British, Irish and American leaders in order to ensure peace in the area.
The terrorist attack at Taj Palace Hotel, Mumbai, India, 26 November 2008
Economic damage: more than $149 million
It is difficult to estimate the total economic impact of the terrorist attack on Taj Palace Hotel in Mumbai, India. However, the cost of the refurbishment amounted to $40 million the Cost of insurance was about $109 million of Additional costs related to stop the business processes and the reduction of tourist flow, of course, increase this figure.
The terrorist attack at the world trade center on February 26, 1993
Economic damage: $810 million
A truck bomb was detonated in February 1993 near one of the towers of the WTC by Muslim terrorists for a terrorist attack, which became a demonstration against American support for Israel. It killed 6 people and more than 1 thousand injured. Rehabilitation costs amounted to $810 million, which became one of the most expensive restorations after the attack.
The attacks in London on 7 July 2005
Economic damage: more than $1.2 billion
A series of terrorist attacks committed by suicide bombers in the London public transport on the morning of 7 July 2005 cost the British government $750 million pounds ($1.2 billion) as a result of the loss of income from tourism. A number of costs included 4.6 million pounds ($7.3 million) spent on the investigation, recovery and insurance.
The attack on the world trade center, 11 September 2001
Economic damage: $3 trillion
Undoubtedly, the most expensive terrorist attack in history of mankind happened September 11, 2001 Attacks on the world trade center in NYC cost al Qaeda about $500 thousand to the New York Times stated that the total cost of the US government since then, was $3.3 trillion. The costs of physical damage and the restoration amounted to about $55 billion, including losses from insured property. In addition, the cost of the security system amounted to $589 billion Total costs associated with the termination of the business process and the reduction of tourist flow, amounted to about $123 billion. Add to that the $1,649 trillion in military funding and $867 billion for a future war and to help veterans, and total expenditures will be $3.3 trillion.
The attack on Bishopgate, London, 24 April 1993
Economic damage: more than $1.2 billion
The next act of terrorism, prepared and carried out by the IRA in 1993, which led to damage worth 350 million pounds ($562 million). Additional damage to the insured property resulted in an overall loss of more than $1.2 billion cost of the preparation of the terrorist attack totaled $4800.
The attack on the Baltic exchange, London, 10 April 1992
Economic damage: more than $2.2 billion
The building of the Baltic exchange in London is a trading exchange, which was attacked by the IRA, who used a bomb in April 1992, the Renovation of the building cost to the government in 1380 pounds (more than us $2.2 billion).
The explosion in Manchester, June 15, 1996
Economic damage: $966 million
In June 1996, the IRA launched a car bomb in Manchester which destroyed a shopping centre. 200 people were injured. The total cost of the damage caused to the insured property amounted to $966 million