The EU’s tourism industry lost 180 billion euros in GDP because of terrorist acts between 2004 and 2016, according to a study by the NGO RAND Europe.

The study shows that economic actors change their economic behavior following a terrorist attack. Corporations and people don’t consume, save or invest in the same way after a terrorist act.

UK and France’s tourism industries lost each approximatively 43 billion euros, Spain is next with a 40 billion euro loss then comes Germany with a 19.2 billion euro loss.

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