Economic Impact

Economic Impact refers to the effect that an event, policy, or development has on the economy of a region, country, or the global economy as a whole. It involves changes in economic indicators such as employment levels, gross domestic product (GDP), income, and overall economic growth that result from specific actions or occurrences. Economic impacts can be both positive and negative, influencing various sectors, communities, and markets. For example, an investment in infrastructure may lead to job creation and increased economic activity, while a natural disaster can cause significant economic losses and disruption. Economic impact assessments are often carried out to quantify these effects, providing valuable insights for decision-makers and stakeholders.