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Counting the value of lives lost as well as property damage and lost production
of goods and services, losses already exceed $100 billion. Including the loss in
stock market wealth -- the market's own estimate arising from expectations of lower
corporate profits and higher discount rates for economic volatility -- the price
tag approaches $2 trillion.
Among the big-ticket items:
The loss of four civilian aircraft valued at $385 million.
The destruction of major buildings in the World Trade Center with a replacement cost of from $3 billion to $4.5 billion.
Damage to a portion of the Pentagon: up to $1 billion.
Cleanup costs: $1.3 billion.
Property and infrastructure damage: $10 billion to $13 billion.
Federal emergency funds (heightened airport security, sky marshals, government takeover of airport security, retrofitting aircraft with anti-terrorist devices, cost of operations in Afghanistan): $40 billion.
Direct job losses amounted to 83,000, with $17 billion in lost wages.
The amount of damaged or unrecoverable property hit $21.8 billion.
Losses to the city of New York (lost jobs, lost taxes, damage to infrastructure, cleaning): $95 billion.
Losses to the insurance industry: $40 billion.
Loss of air traffic revenue: $10 billion.
Fall of global markets: incalculable.
More information:
List of the victims
New York City Comptroller report: One Year later, The Fiscal Impact of 9/11 on New York City
The Milken Institute: The Impact of September 11
on U.S. Metropolitan Economies
International Labour Organization: The impact of the 2001-2002 crisis on the hotel and tourism industry
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