Terrorism and the International Business Environment

Terrorism and the International Business Environment

The Security–Business Nexus

Edited by Gabriele G.S. Suder

This book was born from the editor’s conviction that a wide set of contributors should provide the economic and corporate sectors with guidelines, developed from rigorous research and case studies, to analyse those adjustments made necessary through international terrorism, as known since September 11th 2001. It argues that corporate asset protection and accurate business risk assessment is vital to the longevity, and resilience of business.

Chapter 9: The Tourism Sector

Frédéric Dimanche

Subjects: business and management, international business, politics and public policy, international politics, terrorism and security

Extract

Frédéric Dimanche The only thing we have to fear is fear itself. (Franklin D. Roosevelt) INTRODUCTION The various events following September 11 dealt serious blows to tourism, helping to remind us of its great importance not only to the USA, but also to all countries in the world, particularly in Western Europe. Indeed, tourism is one economic sector that has particularly been affected by 09/11, the more recent terrorist attacks in Djerba (Tunisia) and Bali (Indonesia), and the wars in Afghanistan and Iraq. The ‘war on terrorism’ resulting from the attacks on the World Trade Center and the Pentagon, and more specifically the conflict between the USA and Iraq, greatly contribute to a state of uncertainty in several world regions and economic sectors, and particularly with respect to the economic well-being of tourism. As a whole, travel and tourism has become ‘the biggest business in the world’, worth more that US$4.4 trillion a year, and it is a key economic tool for developing as well as for OECD countries. The short-term impact of the 09/11 attacks, combined with a US economic downturn, had immediate and disastrous consequences for many companies, as travellers suddenly changed their travel patterns and cancelled business and pleasure trips. Somehow, the World Tourism Organization recently reassured business observers by confirming that 2002 had been a better year than expected (after a 9 per cent decline in international tourist arrivals in September–December 2001) with a 3 per cent positive...

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