or some time now, the Thai economy has been plagued with numerous negative factors, e.g., steep oil prices that have dealt a severe blow to production costs and consumption of the general public, decelerating exports and political instability. Many businesses, hard hit by a liquidity crunch, have had to close down, while many have to resort to reducing expenditures through staff reductions or slashes in salaries or other special payments including allowances, commissions, overtime pay, etc. Under these circumstances, social woes have become rampant, in particular, unemployment and job insecurity, where more and more people cannot make ends meet. Disturbing news about thefts and other serious crimes have made the headlines far more than usual, lately. In very many cases, offenses have been committed by the ;new criminals”, that is, offenders instigated by prevailing economic hardship to seek illegal means, though some of the current crime wave is also being committed by professional criminals. Worse, in the midst of political turmoil and the relentless unrest in southern Thailand, the general populace and businesses have become more concerned about their security against physical harm and damage to their property.
KASIKORN RESEARCH CENTER (KResearch) has conducted a qualitative survey entitled, ;Security in Life and Property of Bangkok Residents” using a sampling group of 1,519 persons, dispersed throughout many districts of Bangkok, as well as representing all occupations, taken during August 1-15, 2006. The findings show that 47.3 percent of the respondents felt insecure about their physical safety and their property, while 11.2 percent of them cited that they were living in great fear.
Against this backdrop, the security business and security-related equipment business is experiencing thriving growth. Some 824 security firms are members of the Security Service Association of Thailand, at present. They can be divided into the following groups: first, there are large companies with more than 1,000 guards, totaling approximately 33 companies with a market share of around 27.0 percent. Then, there are medium-sized companies with some 500-1,000 guards; they number approximately 644 companies, with a market share of 28.0 percent. Nowadays, there are around 110,850 personnel employed in this business. Thus, it is counted as an important source of employment. Although the economy is sluggish, this business has exhibited high growth because many have found they must take precautions against the loss of life and property. Nonetheless, security business entrepreneurs will need to focus more on quality and economize on expenses due to the economic situation where they are faced with a lack of skilled personnel, as with other service businesses.
Aside from the security business, there is the business of anti-theft devices that has tended to grow continuously, as well. The market value for this product category can be divided into closed-circuit television systems that are a kind of alarm system, at around THB300 Million per annum, and other alarm products or anti-theft devices other than that mentioned above, with a market value totally around THB100 Million. The market growth for these devices is still high, although the economy is depressed, because consumers and many businesses have sought to install these devices to protect themselves, and use such equipment to track down offenders in order to punish them, where evidence recorded by certain devices can assist in the prosecution of criminals. With the economic situation at this time, entrepreneurs will mainly choose effective, yet low-cost products.
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