Effects of homelessness to an economy.
Every society’s dream is to kick out homelessness and mitigate its effects for there to be maintained a social value among the community. The impact of homelessness is felt by businesses ,officials ,organizations and the taxpayers thus having an substantial decline in the economy of a given society..
Homelessness brings drawbacks in the restaurants and retail establishments. These are some of the major fields in an economy because by the end of the day every individual must buy at least something small from a retail shop or sit down in a restaurant and have a dish. Homelessness makes these fields of specialization to decline and thereby affecting the economy as a whole.
Tourism and real estate industries are yet other fields in which most developing countries widely depend on, to earn foreign exchange. Every homeless persons ...view middle of the document...
Homelessness affecting these two industries which cover a comprehensive share in the overall economy leads to slow economic growth.
The most influential point is about the security of the general public. Having homeless people everywhere in the streets pose a security threat which in the long run is an economic threat. This is due to the fact that the government will spend a lot of capital to invest on maintaining security ,of which the capital would have been used to develop a different sector in the economy.
Homelessness leads to a massive increase in population .Increase in population means a lot of capital from the economy will be used to cater for the resources of the overgrown population as depicted in Bangladesh .Lots of income will still be used to start campaigns on family planning and creating awareness on need of controlling population growth. This national income would rather be used to develop other sectors such as education.
In a homeless society, the government has to incur extra expenses on homeless people in country jails and cells on each single day. The cost of arresting, booking and jailing these homeless people count .For every homeless caught the police officer has to check through the persons details from the identification and the whole process of sending the poor individual to a cell or court costs a lot to the expense of the economy. The officers spends most of their times solving issues with the homeless if not arresting them which means a lot of time is spent having in mind that time is money. This is a double loss to the economy.
Having all the above factors in an economy, only minimal growth is assured or no growth at all. This is because in each factor an extra cost is incurred in which it is at the expense of the taxpayer. Cost of maintaining the homeless by offering homeless support services programs is quite costly , biting back a country’s’ economy once again. These funding programs mostly come in form of taxpayer currency and donations which are rare. Reflecting on the above factors, homelessness is a major drawback to the economy.