Boston's shut down for the manhunt of the Boston Marathon bombing ended Friday with the capture of one and the death of the other. Another casualty of the event still has to recover over time and that is Boston's business.
The New England city would stand to lose hundreds of millions of dollars in losses from the postponed games, shut down of public transport to the lost classes in Harvard.
According to David Gergen, professor at the Harvard Kennedy School, "There is an economic cost to the city of Boston in the near term." He added that this though would be offset when the city returns to business as usual in the days to come.
The Boston area is the ninth largest city in the United States and is reportedly earns an annual gross domestic product of US$325 billion. In 2011, the city was able to produce US$1 billion worth of goods and services a day according to themost recent data of the US Bureau of Economic Analysis.
This is worth 2% of the overall daily US economic activity, estomated at US$45 billion a day. Aside from the economic losses, the city would still have to heal itself from the scars and the trauma of the Boston Marathon bombing and the days that followed.
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