Economic impact of security measures
Contents
Economic impact of security measures
With the help of security measures it is possible to eliminate the risk of a terrorist or criminal event, or at least reduce the risk. Security measures, however, also generate economic impact, here referred to as the economic impact of security measures. This includes the costs of securing a specific urban object, but also the costs and benefits regarding the secondary impact of security measures.
Description
Security measures require time and money by private agents, companies and the public authorities, exacting economic cost/impact. The costs of security measure contain the relatively straightforward direct expenditures on capital equipment and operational costs, and in addition generate various types of secondary effects. Whether these primary and secondary costs are making sense from an economic point of view, depends on many factors, not in the least one's perspective. Perspective is important while, for example, costs of anti-terrorism measures might be insignificant from a national perspective (at least for most EU countries), this does not imply that certain local authorities (e.g. London city in anticipation of the Summer Olympics) and private sectors (e.g. the aviation sector) have to deal with very substantial costs of security measures. Moreover, even if costs of security measures are not significant, public authorities, but also society as a whole should strive to maximise the social benefits and minimise the social costs of security measures, avoiding wasteful expenditures.
Types of impact of security measures
Although largely similar, there are differences in the economic effects of (see also clickable map below):
- economic effects of anti-crime security measures
- economic effects of anti-terrorism security measures
Related subjects
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