Leading global risk analytics firm Maplecroft has released its latest Terrorism and Security Dashboard. The dashboard tracked terrorist attacks over the twelve month period prior to July 1, and the results are bleak.
Globally, fatalities from acts of terrorism rose by 30% to a recorded 18,668 deaths. During the same 12-month period, there were a recorded 9,471 attacks — an average of 26 attacks a day.
With 3,158 acts of terrorism, Iraq had the highest number of recorded attacks within the time frame. Iraq is currently in the process of staving off a Sunni rebellion led by ISIS and a full-scale sectarian civil war. ISIS controls oil and gas infrastructure in Iraq, and the group has also made frightening advances towards the country’s largest dams.
Despite the number of attacks in Iraq, Nigeria was the site of the deadliest terror attacks in the world. Islamic militant group Boko Haram has intensified violence throughout the country and has struck in the key cities of Abuja and Lagos. Boko Haram kills an average of 24 people per attack.
China, Egypt, Libya, and Kenya accounted for the highest increase in terrorist attacks worldwide. With the exception of China, the increase in attacks has had a significant impact on each country’s economy.
“Libya, Kenya and Egypt are among a handful of countries to witness a significant increase in risk in the MTSD and investor confidence in key sectors, including tourism and oil and gas, has been hurt,” states Jordan Perry, a Principal Political Risk Analyst at Maplecroft. “When faced with rising security costs and decreasing safety for their personnel, companies can, and do, reconsider their country-level commitments.”
Libya has found itself incapable of capitalising on its vast oil fields as rival militias and terrorist organisations have blockaded ports, limited oil exports, and damaged state infrastructure. Meanwhile, tourism, a major source of revenue in both Egypt and Kenya, has taken a nose-dive as both countries struggle to provide security.
Although terrorist attacks have only had a negligible impact on China’s economy, Maplecroft predicts that the impact is likely to increase. China is currently exploring methods of hydrocarbon extraction in the restive province of Xinjiang, which is home to China’s heavily discriminated against Uyghur minority.
Worringly for investors, the high growth economies of Colombia, Nigeria, the Philippines, India, and Thailand are all listed as being at ‘high’ or ‘extreme’ risk of further terrorist attacks.
“The dynamic nature of terrorism means individual events are impossible to predict” Maplecroft CEO Alyson Warhurst stated in a press release. “However, up-to-date global intelligence on the intensity, frequency, precise location and type of attacks can help organisations to make informed decisions relating to market entry, security measures for in-country operations, duty of care obligations, supply chain continuity and risk pricing.”
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