¶ … Terrorist Attacks on New York City
Consumer Behavior and Risk
Terrorism and Consumerism in the Melting Pot
How has September 11 Impacted Americans
Economic Impact of terrorism
Outlook for the New York Economy
Examination of the Effects on Business
Regaining Consumer Confidence
Sampling Procedures
Survey Construction
Survey results
Recommendations for Further Studies
Survey of Consumer Patterns After The September 11 attacks on the World Trade Towers
Survey Results presented Graphically
Store Owner Interviews
The Impact of the Terrorist Attacks on New York City: One Year Later Chapter 1
The attacks on the World Trade Towers on September 11, 2001 threatened the American People's sense of security in a way that had not been felt since the attack on Pearl Harbor. To say that the attacks changed the lives of many people would be an understatement. The attacks literally brought the country to a halt for nearly three days. It can be expected that these events would have an immediate and drastic effect on people's behaviors and the economy. However, the true test of the effects is if they have had any lasting effects on people's behavior and on the economy. This research will examine the question, "What are the effects on people's behaviors and tourism in New York City one year after September 11, 2001 attacks?"
This research hopes to achieve several objectives:
To identify the damage made on that tragic day by looking at various Sectors related to the travel and tourism industry.
To establish which businesses, if any, have been completely ruined, consequently ruining the industry,
To examine how this will change people's perspective of doing business in the future and whether they are hesitant at starting a new business in a busy city like New York.
To evaluate people's behavioral changes and whether they believe that day will have an impact on the rest of their life. I will encourage people to discuss with me their weekly typical life and compare it with an average week before the attacks, for example.
To examine how this business loss and slowdown has affected the global economy by looking at various industries individually.
To draw clear conclusions on what actions can be taken to restore the city to the way things were, and whether there is a chance things will never be the same, and whether the city's structure is debatable to permanent change.
This research will support the thesis that the financial impact of September 11, 2001 will have a lasting effect on people's lives, but that the financial impact will be decreased over time. It is expected that permanent change will occur in people's lives and that these changes will not effect their habits in a significant manner. This research will shoe that these changes will not have a long-term devastating effect on businesses. Businesses need only survive the short-term effects in order to survive long-term. This research will support the above hypothesis.
It is expected that this research will be of benefit to businesses in helping to predict future trends and marketing strategies. Identification of methods to restore consumer confidence, particularly in tourism and entertainment sectors of the city will help businesses to establish strategies to survive the short-term impacts and set goals for rebuilding future business.
Determining steps that can be taken to rebuild the lives and businesses in New York is a proactive step to recovery. As confidence is restored in New York, so will confidence be restored in the rest of America as well. The first step in developing a plan is to identify what needs to be done. This is the purpose of this research, to identify the effects on people's lives and businesses and to assess what consumers feel would help to restore their confidence. The target audience of this report is marketers and administrative personnel responsible for long-term projections and goal setting.
Chapter 2
Literature Review
The effects of September 11, 2001 have been a subject of study for many in Psychology and social sciences. Many financial analysts have made predictions and forecasts on how these events would effect people's lives and ultimately the economy. It is generally believed that the entertainment and tourism sectors would be the hardest hit. Many of these predictions were made directly following September 11, 2001. It was generally felt that the impact on the economy would be severe and sudden, but that over time things would eventually stabilize and return to somewhat normal. Literally thousands of articles have been written on the subject. The following literature review will...
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