El Salvador Spends Over $2 Billion per Year on Security

©image: Stephen Z

Jorge Daboub, president of the El Salvador Chamber of Commerce and Industry, indicated that in the case of private companies the annual cost of security is more than $640 million.

In his speech to the conference "Promote your country 2010", organised by the Salvadoran Foundation for Economic and Social Development (FUSADES) he added that, "it is a high cost that affects the competetiveness of Salvadoran businesses and scares off investors".

Daboub went on to say that Salvadoran business are less competetive because they spend more on private security than others in Central America. In today's global marketplace a 3% of 5% difference in the cost of a product is enough to make it difficult to compete, according to Elsalvador.com.

Source: elsalvador.com

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