Spending on Security
The need to protect assets and operations from the growing wave of violence and crime is pushing up the costs of security companies.
Monday, June 8, 2009
Costa Rica suffered losses of more than 13 million in the commercial sector due to criminal acts, and it spent $110 million during the same year on private security.
Insecurity has meant an increase n the number of firms in the industry, and now they are focusing not only on the segment with the highest purchasing power, but on a new growing market consisting of traders and business managers.
Firms spent $174 million in security for their businesses in 2009, however in 2010 the expenditure amounted to $190 million.
Paying for armed custody, satellite tracking and “tolls” to armed gangs are some of the additional costs that must be paid when transporting goods in Central America.
Over the last three years the percentage of budgets that must be spent on security companies has increased from 8% to 12%, and are now starting to include expenses for extortion.
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