The big business of personal protection: How private security became a $50 billion industry

Private security spending and guard employment have climbed as companies and communities respond to high-profile attacks, even as violent crime falls. The trendy Hillcrest neighborhood of San Diego, California, was the backdrop for violent acts and hate crimes. The Hillcrest Business Association 's members in 2024 began paying a third-party service around $400,000 annually for eight hours of unarmed security guard patrol each day [1].

Sources

1. cnbc.com · The big business of personal protection: How private security became a $50 billion industry Sep 4, 2026

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