State the Economic impact of Terrorism
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ᴛᴇʀʀᴏʀɪꜱᴛ ᴀᴄᴛꜱ ᴄᴀɴ ᴄᴀᴜꜱᴇ ʀɪᴘᴘʟᴇ ᴇꜰꜰᴇᴄᴛꜱ ᴛʜʀᴏᴜɢʜ ᴛʜᴇ ᴇᴄᴏɴᴏᴍʏ ᴛʜᴀᴛ ʜᴀᴠᴇ ɴᴇɢᴀᴛɪᴠᴇ ɪᴍᴘᴀᴄᴛꜱ. ᴛʜᴇ ᴍᴏꜱᴛ ᴏʙᴠɪᴏᴜꜱ ɪꜱ ᴛʜᴇ ᴅɪʀᴇᴄᴛ ᴇᴄᴏɴᴏᴍɪᴄ ᴅᴇꜱᴛʀᴜᴄᴛɪᴏɴ ᴏꜰ ᴘʀᴏᴘᴇʀᴛʏ ᴀɴᴅ ʟɪᴠᴇꜱ. ᴛᴇʀʀᴏʀɪꜱᴍ ɪɴᴅɪʀᴇᴄᴛʟʏ ᴀꜰꜰᴇᴄᴛꜱ ᴛʜᴇ ᴇᴄᴏɴᴏᴍʏ ʙʏ ᴄʀᴇᴀᴛɪɴɢ ᴍᴀʀᴋᴇᴛ ᴜɴᴄᴇʀᴛᴀɪɴᴛʏ, xᴇɴᴏᴘʜᴏʙɪᴀ, ʟᴏꜱꜱ ᴏꜰ ᴛᴏᴜʀɪꜱᴍ, ᴀɴᴅ ɪɴᴄʀᴇᴀꜱᴇᴅ ɪɴꜱᴜʀᴀɴᴄᴇ ᴄʟᴀɪᴍꜱ.
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Explanation:
Terrorist acts can cause ripple effects through the economy that have negative impacts. The most obvious is the direct economic destruction of property and lives. Terrorism indirectly affects the economy by creating market uncertainty, xenophobia, loss of tourism, and increased insurance claims.
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