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Bankruptcies in Brussels up 13 percent after attacks

11:08 13/03/2017

Since the 22 March terror attacks in the Brussels Airport and Maalbeek metro station, 13% more businesses have gone bankrupt in the capital than the year before. The number of start-ups is also remarkably lower, writes Het Laatste Nieuws based on figures from the organisation NSZ, representing the self-employed.

It was already known that the attacks had a strong impact on the tourism and hospitality sectors, says NSZ, but now it is clear that other types of businesses have also been affected.

Between April 2016 and February 2017, there were 362 bankruptcy cases in the Brussels-Capital Region, compared to 320 in the same period the year before, a difference of 13%. The NSZ study also shows that there were a lot less start-ups: 745 new businesses in the past year, compared to 838 a year earlier.

The study points out that the terror attacks are not the only factor contributing to the changing business climate in the capital: traffic congestion, the new pedestrian area and infrastructure problems, particularly in the tunnels, have all played a role.

Written by Robyn Boyle