Article originally published in Global Risks Insight: Know Your World
Brussels, the capital of Belgium and the European Union, is experiencing some immediate economic effects resulting from recent terror threats in 2015. This city’s experience may prove to be a blueprint for other cities in 2016.
Following the deadly terrorist attacks that shocked France and the world on November 13th 2015, the global attention turned to Brussels as the majority of the Islamist militants that took part in the French massacre had links to the European capital.
In addition, in late November Belgian authorities temporarily raised the terrorist threat level to its highest tier given the presence of a reportedly imminent terrorist threat.
This led to substantial disruptions in the capital in what came to bedefined as “Brussels Lockdown”. The terrorist threat again came as an obstacle to the normal life of Brussels’ residents when authorities banned all public New Year’s Eve festivities on December 31st because of a reported plan to carry out an attack in the capital.
This prolonged state of insecurity has had a negative impact on the economic and social life of the capital. Since November 2015, Brussels, along with other European capitals, has been experiencing first-hand the cost of terror.
The most overt statistics pertaining to touristic activities, social outings, and public gatherings show a general change in the perception of the city and an overall evolution in the local mood.