The recent series of terror attacks in Paris has been major setback to the world economy, point out analysts.

The major risk is for Europe’s tourism sector. Following the Paris attacks, military intelligence has revealed that several other countries within Europe have been targeted for such attacks by terrorists. Hence, tourists are reportedly fast losing their preference on Europe.

With the Christmas season just round the corner and this is a time where consumers spend a lot, the prevailing security situation is likely to impact gravely on the business environment.

The tourism industry in particular contributes to 7.5 per cent of the French Gross National Product. Hence, such a risky environment during a festive time like this would deal a deathblow not only to the French economy but to the entire European economy.