Fifteen years ago 2,982 died and 6,000 were injured. Two iconic buildings were destroyed in the World Trade Center in New York. It changed the way business is done. According to national economists, after the 9-11, there was a major economic consequence for the world: to have more comprehensive financial regulations.
Economist Edna Camacho declared that the world realized that these regulations have a cost for financial institutions and therefore this aspect should be considered. She was supported by economist Melvin Garita, who added that all financial institutions worldwide applied regulations to identify their customers and to justify their incomes.
At the beginning, there was a temporary drop in stock prices, especially in businesses related to tourism, hospitality, leisure and insurance sectors, but they were slowly recovering.
However, terrorism unleashed many waves of fear in the world economy, as explained by university professor Jordi Cuers. This generated problems that eventually led to the economic crisis of 2008.
To Garita, the aviation and tourism industry had irreversible effects. In addition, Costa Rica reported lower exports due to the demand for some products that were not considered to be basic needs. However, the commercial trend recovered as time passed by.
The attacks destabilized the aviation industry in the United States; earnings during the 1990s, about 22,800 million dollars, were absorbed by the 24,800 million dollars in damages that were consequences of September 11th.
Another immediate effect was seen in oil, whose price during the past fifteen years was over 100 dollars a barrel.