The tourism industry changed drastically after the events of September 11th took place. The events of 9/11 took an enormous toll on the world and are to be considered the most horrific terrorist attack within modern times and resulted in an enormous number of travelers to cancel travel arrangements both in the near and distant future. The terrorist attack caused both the occupancy rates and the passenger numbers to reduce tremendously as almost all travelers were reluctant to fly. The 9/11 attacks had several negative effects to the worldwide economy that had been estimated up to 2002 that cost approximately a loss of $36 billion. There was a record 48.8 million people that visited New York City in 2010 which resulted in a total of $31.4 billion
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There were approximately 4 million individuals traveling less internationally in 2001 than compared to 2000. Both American Airlines and the United Airlines had to cut approximately 20,000 jobs due to the shortage of travel that occurred after the 9/11 events. A few of the smaller airlines (British Airways and Air Canada) had to also cut 5,000 jobs due to the number of fewer passengers that were traveling. Overall, the 9/11 tragic event tremendously effected the airlines in a negative way as well as the number of passengers traveling across the …show more content…
reported the city's first real spike in tourism since the terrorist attacks when 37.8 million people visited the city, up more than 7% from 2002. Those numbers have steadily increased, and the cities on track to welcome more than 50 million tourists by the end of the year (Pesce).”
Insurance losses after 9/11 were tremendous and have negatively affected insurance companies ever since. The losses resulted in more than one and a half times greater than what Hurricane Andrew accrued, which was considered the largest disaster prior to the 9/11 attacks. The overall losses included, but were not limited to, $11 billion in business interruptions, $9.6 billion in property loss, $1.8 in worker’s compensation claims, $7.5 billion in liability insurance claims and over $2.5 billion in additional insurance claims that were not put into one of these
There were approximately 4 million individuals traveling less internationally in 2001 than compared to 2000. Both American Airlines and the United Airlines had to cut approximately 20,000 jobs due to the shortage of travel that occurred after the 9/11 events. A few of the smaller airlines (British Airways and Air Canada) had to also cut 5,000 jobs due to the number of fewer passengers that were traveling. Overall, the 9/11 tragic event tremendously effected the airlines in a negative way as well as the number of passengers traveling across the …show more content…
reported the city's first real spike in tourism since the terrorist attacks when 37.8 million people visited the city, up more than 7% from 2002. Those numbers have steadily increased, and the cities on track to welcome more than 50 million tourists by the end of the year (Pesce).”
Insurance losses after 9/11 were tremendous and have negatively affected insurance companies ever since. The losses resulted in more than one and a half times greater than what Hurricane Andrew accrued, which was considered the largest disaster prior to the 9/11 attacks. The overall losses included, but were not limited to, $11 billion in business interruptions, $9.6 billion in property loss, $1.8 in worker’s compensation claims, $7.5 billion in liability insurance claims and over $2.5 billion in additional insurance claims that were not put into one of these