By IANS
Dubai : The global homeland security business is flourishing and governments and businesses worldwide are expected to spend some $178 billion by 2015 to counter terror threats, according to security experts and industry sources, WAM news agency reported Thursday.
“International expenditure on homeland security now surpasses established enterprises like movie-making and the music industry in annual revenues,” said Angela Schierholz, senior show manager at Epoc Messe Frankfurt GmbH, organizer of Intersec Middle East exhibition to be held in Dubai Jan 13-15, 2008.
The exhibition provides a platform to the security-related goods and services companies to showcase their latest products in the region.
“Homeland security is among the fastest-growing industries today and it has expanded encompassing companies selling all kinds of products and services for securing nearly every imaginable target,” said Ms Schierholz.
“Homeland security spending is expected to increase to $178 billion by 2015, or triple its current value,” she added.
The scope of security-related spending has expanded to include more sophisticated technology and the protection of terrorist targets such as ports and nuclear reactors.
The homeland security business is much bigger in the US than in any country or region abroad, but it is changing.
Rapid growth is expected in Europe, India and China. As economies of India and China grow rapidly, crime is rising and both are expected to join other Asian nations in an effort to combat crime and terrorism.
The Intersec Middle East 2008, which is Middle East’s biggest show and conference for security industry, will host exhibitors from 50 countries.