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OF TERRORISM
FIGURE 1.6
The economic impact of terrorism, US$ billion, 2000–2017
The global economic impact of terrorism peaked in 2014 and has since declined in line with the decline of terror-related
deaths committed by ISIL.
120
100 108
CONSTANT 2017 US$, BILLIONS
91 89
80
75
60
65 September 11 attacks 52
48
40
43
32 33
20 27 27 28
20 20
13
9 11 10
0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Source: IEP
The global economic impact of terrorism was US$52 billion in TABLE 1.2
2017, a 42 per cent decline from 2016. This is the third The ten worst affected countries by
consecutive year of decline in the cost of terrorism from its peak
economic impact of terrorism as percentage
in 2014 of US$108 billion. The economic impact in 2017 was less
of GDP, 2017
than half the impact seen in 2014.
The countries with the highest economic impacts of terrorism
Figure 1.6 shows the economic impact of terrorism from 2000 to are all suffering from ongoing conflict.
2017 in billions of US dollars. The impact of the September 11
terrorist attacks in 2001 is shaded separately.
Country % of GDP
The economic impact of terrorism model includes costs from Yemen 0.7%
deaths, injuries and property destruction. The model also
Source: START GTD, IEP Calculations
includes losses in economic activity, where terrorism causes
more than 1,000 deaths.
Deaths from terrorism accounted for 72 per cent of the global breakdown of the economic impact of terrorism by category.
economic impact of terrorism. Indirect GDP losses are the
second largest category at 15 per cent of the total. Property The economic impact of terrorism is smaller than many other
destruction is estimated at two per cent of the global economic forms of violence, accounting for approximately 0.4 per cent of
impact of terrorism. However, property cost estimates are the total global cost of violence in 2017, which was an estimated
missing for a large number of incidents. Figure 1.7 shows the $14.76 trillion, equivalent to 12.4 per cent of global GDP.