World Business Dwindling in the Wake of Terror Attacks

There is no point in time that the world has been under constant terror attacks as in the recent months. The world over is now under the greatest terrorist threat ever from the world’s extremist groups that seem to be hungry for blood and this is hurting the world economy.

According to global security analysts, the world was a little bit secure under the terrorists attacks led by Algaeda of Osama Bin Laden than it is now under the so called ISIS, Boko Haram, Alshabaab and the Taliban. The current breed of terrorists seem to be only interested in shedding blood without giving any specific reason but just to announce of their presence and existence.

Just recently, Paris France was hit. More than one hundred people lost their lives and hundreds others injured. The world mourned and came over it. As the victims of Paris were still coming to terms of what had happened, Brussels in Belgium was hit. According to official reports, 35 to 40 people lost their lives and as the world was still shocked about Brussels, Lahore in Pakistan was hit and more than one hundred people, most of them children lost their lives.

It is estimated that the general stock market in the Europe market fell drastically in the wake of the Paris attacks but Brussels had a more devastating effects on the economy of Europe this year. On a single day, it is estimated that travelling companies both via air and rail lost billions of dollars in terms of losses as the main airport in Brussels was closed down and any form of transport halted.

Africa has suffered immensely under the hands of terrorists. Nigeria is ever under attack from the outlawed Islamic extremist group, Boko Haram. More than 10,000 people are estimated to have been killed by Boko Haram this year alone with some provinces in Nigeria being left with no people to live in. Education in Nigeria especially in the strongholds of Boko Haram has been totally disrupted and children no longer attend schools. The health sector is struggling and with the ever falling global oil prices, Nigeria is struggling by spending billions of dollars to maintain security.

Kenya has been under constant attack from Alshabaab the recent being the massacre of unknown number of Kenyan soldiers in Somalia. Many states are yet to be convinced that Kenya is safe to invest in due to these constant attacks from the terror group. There was a time tourists completely failed to come to Kenya following travel advisories by their respective countries as a result of attacks from the Alshabaab.

Somalia itself has never recovered economically from the aftermath of constant terror attacks. Economic analysts say that most countries are now using billions of dollars to protect themselves against terror attacks at the expense of economic development and that if the trend continues, then the world is likely to suffer economically.

Article by Juma Fred.