Although, the share markets have not been too affected by the terror attacks on Brussels. There is another area which seems to get affected by these attacks. According to experts, it will take more time to recover from the Brussels Attacks than the Paris Attacks which happened in November last year. The tourism business will be the most affected area of this war of terror.The tourists are already showing their insecurity to travel to Europe for vacations this year as there are declines in air travel booking and hotel bookings as compared to the numbers in the last year for the same period.
The airline stocks and the stocks of hotel groups faced a decline immediately after the attacks in Brussels. Belgium can be called as the center of the activities of the European Union, many of the headquarters are in Brussels. The city is also rich with historical legacy and cultural history. It is also famous for the style of architecture and the best chocolates around the world. These reasons ensured that the tourists were always visiting this city in large numbers. However, the terror attacks in Paris and the latest attacks on Brussels airport made the tourist insecure about visiting the city.Generally, Easter break means a big surge in tourism business for this city, but this year the city felt the impact of insecurity with cancelled hotel bookings and fewer tourists.
State Department of the U.S indicated the possibility that the tourism industry may get affected if there is thepossibility of more such attacks on the major cities in Europe. As these terror attacks target the popular places like restaurants, shopping centers and other important tourist destinations in Europe, tourists may feelinsecure visiting such places. Skift.Com conducted an online poll, and according to the findings of this poll, it can be said that the American tourists are not inclined to travel to Europe for their holidays this year. Almost 20 percent tourists from America have cancelled their bookings and more are considering to follow the same action.
According to the experts, the most affected tourism area was the leisure tourism as the tourists can always find other destinations where they feel safe. Business tourism may not get affected as such tourists who are travelling for business and work take these things in stride. On Thursday, the French law enforcement authorities have arrested a suspect who may have engaged in theplanning of an attack. This news also added a sense of insecurity towards travelling in not only France or Belgium but in the whole of Europe.
It seems that these terror attacks are going to have adverse effects on various factors of tourism industry such as airline bookings, hotel bookings. It has been reported that the airlines suffered a decline of 136 percent in their bookings in one week after the attacks on the Brussels Airport. The bookings to London and Paris were also affected by these attacks. As Europe is always the first choice for many tourists as a holiday destination, the tourism industry will definitely recover from this negative impact, it will just take some time to do so.