Terrorism and Its Threats to the Commercial Sector

Introduction

With the current wave of terrorist activity and attacks, the terrorist threat is incredibly real to the commercial sector. Since 2008, terrorists have targeted commercial organizations such as hotels that accommodate large numbers of people. In 2009, for example, terrorists bombed the JW Marriott and Ritz-Carlton hotels in Jakarta, Indonesia, leaving 9 people dead and 42 injured. Although terrorism has existed in geographical isolation for scores of years, approximately 20% of terrorist acts affect the business community (Levene 2007, p. 7). The contemporary historical record is full of horrific incidents carried out by extremists for divergent reasons. Terrorism is, in effect, the plague of a contemporary and civilized society — real and deeply detrimental to the commercial sector.

Numerous countries across the globe experience terrorism triggered by ideological, social, religious, and other causes. The effects of terrorist attacks and threats negatively affect businesses in lasting ways. The IRA attack on London transport paralyzed the commercial sector, while the 9/11 attack on the World Trade Center destroyed and disrupted over 14,500 businesses in New York (Press and Public Affairs 2005, p. 11). That attack caused significant loss of tax revenue, a drop in tourism, a fall in property values, and serious effects on the leisure and hotel industries. This paper highlights the effects and threats of terrorist attacks on the commercial sector, the vulnerability of that sector to terrorism, and how the commercial sector — in collaboration with government agencies — can deter and mitigate the effects of terrorism.

The Definition of Terrorism

Although there is no universally accepted definition of terrorism, defining the term is crucial. A clear definition helps people understand terrorist actions by clarifying the offences carried out by terrorists (Jackson 2011, p. 5). Defining terrorism also enables security agencies to handle terrorist properties, cordon off affected areas after attacks, arrest terrorist suspects, proscribe organizations, and question and detain suspected terrorists at major entry points.

Terrorism refers to acts of deliberate harm perpetrated to cause serious destruction or death, with the aim of intimidating or coercing an individual, a local or global government, or an organization into adopting a particular policy (Jackson 2011, p. 5). It is a vicious activity that jeopardizes the health of human populations, destroys property, and contravenes the criminal laws of a state — instilling fear in citizens, governments, the commercial sector, and other sectors in pursuit of entrenched collective objectives (Gill 2005, p. 67).

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