The Gulf Oil Spill and Its Effect on the Economy
By Lee M Spaziano
When seeing photos of dead marine life along with oil stained shorelines, the horrible environmental impact of the Gulf Oil Spill is apparent. All over the Gulf States, the economic effects of the spill are just as disastrous, but more difficult to photograph.
How can you take a picture of what is happening now in tourist based economies all along the Gulf Oil Spill affected areas? At first, it isn’t as spectacular as closed businesses and empty buildings. At first it may be the cleaning lady at a hotel who already lived paycheck to paycheck, who loses half of her weekly hours. This woman was already between a rock and a hard place prior to the disaster impacted her paycheck. These days she can’t spend money on what she is accustomed to. It causes a ripple effect. It is the same throughout the many businesses who depend on tourism, restaurants, entertainment venues, attractions: every one of these are tourism dependent service industry jobs that are the very first being truly impacted by the Gulf Oil Spill.
The other jobs certainly hard hit because of the Gulf Oil Spill are the fishing industry jobs. Not only for the fisherman and their crews, but all the factories to process the catch. The stores that sell the catch. The economical damage of this Gulf Oil Spill spreads as far as the oil itself, and further.
When folks lose their livelihoods due to the Gulf Oil Spill, it is stress on the state governments when there is an increase in the requirement of handouts and entitlements. The states are feeling the crunch, as fewer tourists mean less tax dollars. Much less tax revenue and much more need for support of a displaced labor force is a formula for disaster.
It may be many years or even decades before the locally affected economies recover from this disaster. The good news is, despite the fact that the Gulf Oil Spill is one of the greatest environmental and economic disasters of our time, a displaced worker may use this as a new start in life. Exploring new business opportunities is the name of the game.
Fishing and oil industry jobs as well as many tourism industry jobs are gone permanently. Do not wait around trying to salvage what was devastated by the gulf oil spill. Take advantage of this as your excuse to move on to bigger and better things.
About the Author:
Lee Spaziano is a professional entrepreneur.
Visit Lee’s web page to read more helpful information on building wealth.
Or read how to save money and get cash back on everything you buy.
Article Source: http://EzineArticles.com/?expert=Lee_M_Spaziano
http://EzineArticles.com/?The-Gulf-Oil-Spill-and-Its-Effect-on-the-Economy&id=4561029
