High Rate of Extortion Forces Businesses to Close

A study conducted in July by the Chamber of Commerce of Honduras shows that extortion has caused the closure 1,600 companies.

Thursday, September 6, 2012

Crime that has been affecting the country's economic development, discourages investment and generates job losses, said Mario Bustillo, president of the Chamber of Commerce of Tegucigalpa.

"The result is alarming, 1,600 companies mostly from the commercial sector, have been the victim of extortionists who started with small amounts, then after charging the ‘war tax’ weekly, they demanded payment every day", eeported Laprensa.hn.

Employers surveyed added that having stopped investing in Honduras, 41% would opt for Costa Rica, 23% Panama, 29% Nicaragua and 12% would go to El Salvador.

More on this topic

More Extortion, Fewer Companies

May 2018

In El Salvador every week at least two companies report that they intend to close down due to the impact of extortion, a problem that, far from being resolved, seems to be getting worse every year.

Representatives from the Chamber of Commerce and Industry of El Salvador (Camarasal), said that the country's employers do not see any significant improvement in the security climate, following the six month extension last April of the extraordinary measures of the Sánchez Cerén administration to try to control crime and insecurity.

70% of MiyPEs in El Salvador Suffer From Extortion

September 2013

A study by the union of micro and small businesses reveals that 70% of them are victims of extortion, of which 65% do not file any complaints for fear of retaliation.

The study which included the participation of over 425 representatives of MSE's was conducted jointly by the National Council of Small Business in El Salvador (CONAPES) the MiyPEs Union and the Society of Businessmen and Industrialists of El Salvador (SCIS).

Concern About Rising Crime of Extortion in Guatemala

February 2013

Employers indicate that the cost of paying extortion fees on productive or commercial activities, can amount to up to 1% of sales.

S21.com.gt reports that "The country's industrialists have declared taken their concerns to the Minister of the Interior where they reported being victims of extortion and theft and a killing spree that is maintaining a 'climate of anxiety' in the country, said Javier Zepeda, president of the Chamber of Industry (CIG by its initials in Spanish). "

Central America Insecurity Ranking

November 2012

The percentage of people who say they have been robbed or assaulted in the past four months: Honduras 33%, Guatemala 29%, El Salvador 28%, Panama, 22%, Costa Rica 21%, Nicaragua 19%.

Public Opinion Survey in Central America and the Dominican Republic by CID-Gallup.

November 2012

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