The growing 'tax' of insecurity: how much more will it cost companies to operate in the country?

TL;DR

Businesses are experiencing increased operational costs due to widespread insecurity and escalating terrorism.
Higher rates of extortion, kidnapping, and theft necessitate greater spending on security measures.
Companies are hiring private security and escorts, especially in regions like Santa Marta, Malambo, Soledad, Cartagena, and Bogotá.
The transportation of raw materials and finished goods is impacted by the presence of violent armed groups.
There is a noted increase in demand for private security services, including executive escorts and facility protection.
Regions most affected by increased security demands include Cauca, Valle, Antioquia, Bogotá, and parts of the coast.
Private security is seen as crucial for mitigating the economic impact of insecurity, which costs the country 3.46% of its GDP.
In Medellín, authorities have launched a specialized anti-extortion group to combat organized crime's control over commercial dynamics and product distribution.
The success of security initiatives requires continuity and collaboration with business associations to facilitate reporting and judicial action.

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