The confederation report also indicates that the tourism boom is over and that urgent remedial action is required in order to offset further job losses and income decline. Not least among the reasons for this are the events of 11 September and the subsequent downturn in the global economy. No analyst could have predicted what would occur on 11 September, but it had quite a negative impact in many areas of the economy and tourism was particularly affected. The events of 11 September and the foot and mouth epidemic are the two main reasons that so much money was lost by the tourism industry in the past 18 months.