Terrorism is a menace that finds its place in the priority of all global meetings among leaders (Haglund Morrisey and Silander, 2007), and the autonomous authorities such as the United Nations, World Economic Forum, International Monetary Fund, and the likes. Due to this stinking menace, almost all businesses now consider this as a priority agenda in its assessment of investment appraisal. The rationale for selecting this aspect as a major influence is because of the analysis of the current scenario across Europe, US, Asia, and other nations. Almost every nation has been a victim of terrorism in the past few decades, and this has made the citizens of the nations’ more alert and has been rendered protective rather than open and liberal (Schmidt and Salzborn, 2012). It affects how business invests in the future, how people immigrate and migrate, how social structures are changed, and how the political will also changes in which where war is also not ruled out. These impact the future of the economy to a major extent, right because the strength of terrorism is growing across the world and not diminishing.
The recent immigration influx into the EU and the terrorist attacks being carried out by people who entered in disguise of asylum seekers confuses the whole intention of the economy’s progress (Henderson, 2005). Countries like Germany, France, UK, and Turkey who have seen continuous terrorist attacks in the last 3 years have lost track of its economic progress. The priorities for the nations have changed, they are looking to restrict terrorism first instead of steering the economy, which indicates the priorities and the productive time input of intellectual talent. Consistent immigration of refugees into the EU and subsequent terror attacks uncovered as disguised refugees are making the case against free movement of people very strong (Givens, Freeman and Leal, 2009). In response, EU nations tend to become more stringent toward asylum seekers and change immigration policies that tend to reflect protectionism. This also blocks the entry of genuine talent from across the borders, and thus the decline of a multiculturalism era. Such incidence and hard stance on immigration because of terrorism restricts the flow of free trade, capital, and talented manpower.
Terrorism gravel impacts the way people travel, and travel is an indispensable part of the future of global economy, For example, after the Paris terror attack, travel and tour operators confirmed a cancelation of almost 30% of inbound vacations trips. Hotels in Belgium received cancelation requests for 40% of rooms when the city was closed for three months post a terror attack (Moreau, 2015). There were reports that the threat of the Islamic state has increased to an extent that British citizens chose to stay home over many weekends before some relief measures were announced by the government (Laird, 2015). A lot of hesitation and resistance to lead normal lives and continue to expand lies in the fear of life that the citizens feel after terrorism has become more troublesome. It restricts free movement of people, capital, and normalcy takes a lot of time to be restored, let alone working to expand one’s market and business.
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