Economic Impact - GCSE Geography Definition

'Economic impact' refers to the effect that an event, policy, individual, or project has on the economic wellbeing of a region or community. In the context of GCSE Geography, it involves exploring how changes in employment rates, income levels, and economic activities within an area are influenced by factors such as industry developments, natural resource usage, or tourism. Economic impacts can be positive, like job creation and increased investment, or negative, such as job losses and economic decline. Understanding economic impact helps students analyse how geographical locations are shaped by and respond to various economic forces.