RealNews

Global Homeland Security Outlays Seen at $550 Billion

Governments around the world will spend an estimated $550 billion on homeland security in 2003, with that figure set to rise to $572 billion by 2005, according to an analysis released on Tuesday by U.S. business development firm Equity International. The Center for Homeland & Global Security, a division of Equity International, said total homeland security spending in the United States would reach $55.6 billion in 2003, with that figure set to rise to $56.8 billion by 2005. The group, which is hosting a conference on homeland security in Washington this week, predicted that despite poor global financial conditions, governments around the world would increase homeland security spending for at least the next two years, spurred on by increased terror attacks like the Sept. 11, 2001, hijacking attacks on New York and Washington. “Governments have responded to, and will continue to respond to, the new reality that their people and their lands are more vulnerable to new forms of aggression and that protecting them in this new reality will require more spending,” the group said in its report. Full Story

OODA Analyst

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