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| Your Wealth at Risk: Triumph Over Terror |
Northern Ireland's Troubled Economy
John Ferry
03/01/2005
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 Not all segments of the United Kingdom’s economy weathered IRA attacks as well as the City. Since the late 1960s, when “The Troubles” began, until the mid-1990s, Northern Ireland found itself in the crossfire between the IRA and its unionist counterparts. “The impact of events in London and other parts of the United Kingdom were relatively short-lived, but the real economic effect was on the Northern Ireland economy itself, where there was a sustained campaign of violence over a prolonged period of time,” says Paul Wilkinson of the University of St. Andrews’ Centre for the Study of Terrorism and Political Violence. “Of course it discouraged investment there.” (Click image to enlarge)
A study by the Northern Ireland Department of Enterprise Trade and Investment (DETI), which is responsible for developing economic policy in the province, shows a dramatic increase in inward investment as the peace process gained momentum in the mid-1990s (see Graph 4, above). The initial capital influx fell off again, but DETI claims this spurt acted as a catalyst for change, improving the economy as a whole. Graph 4 by DETI Northern Ireland.
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