Global tourism sector under terror threats

Tourism sector revenues have fallen sharply in many countries, especially those with the most famous tourist destinations.

Terror attacks have been occurred in many countries. Cities considered hot tourist spots are now also seen as hot security risks.

France has always been one of the world’s leading tourist destinations. It received more than 84 million visitors last year. Tourism provided 2 million jobs and contributes 7% of France’s GDP. Hosting the 2016 EURO Championship, France hoped to welcome a record number of visitors. But terror attacks in late 2015 reduced the number of tourists. Social instability, strikes, and unfavorable weather have also discouraged tourists from visiting France. A truck attack on July 14 in Nice increased the fear of would-be visitors.

In Brazil, security is being strengthened for the upcoming 2016 Olympic. Rio De Janeiro authorities are trying to figure how to ensure security of the half million visitors expected to come to Rio next month. The city hopes to make millions of USD from this event. But in the past week, 10 people suspected of being members of IS and plotting terror attacks during the Olympics were arrested.

In Turkey, multiple terror attacks, a military coup attempt against President Tayyip Erdogan, a 3-month state of emergency, and numerous arrests and protests have all shut down the Turkish tourism sector. The number of visitors to Turkey is way down. Hotels and restaurants have turned quiet and have had to reduce their prices to attract any customers at all. According to Euromonitor, the number of foreign tourists to Turkey this year will be 33 million, 3 million less than in 2014. Losses of the tourism sector make Turkey’s GDP reduce 1%.

Other countries are also taking an economic hit from terrorism. It’s estimated that each terror attack costs the tourism sector millions of visitors.