A stolen phone, an assault on a crowded street, or a murder near a popular tourist spot—these incidents are no longer uncommon in some of the world’s most famous cities.
And yet, we keep going back! What makes us choose a city whose risks we’re aware of, when there are safer cities out there? Perhaps it’s because we don’t factor in safety the way we factor in other aspects of a place.
When we compare cities, we look at location, amenities, restaurants, shopping, weather, and quality of life; we’re influenced by a city’s fame, history, image, and the experiences of others, As for safety, we often take it for granted—as if peace of mind were not a value in itself, but rather something we only notice when it’s gone.
We understand the impact of location on a property’s value, and we know the value of a view, amenities, and proximity to destinations. But we don’t know how much it’s worth to walk at night without fear, or to go out with your family without worrying about those around you.
Perhaps this is because we only realize the importance of certain values when we lose them. When safety is present, it becomes something we take for granted; when it diminishes, we discover just how much freedom it gave us to move about, make choices, and enjoy our surroundings.
The statistics give us an idea of this value: in the Kingdom, the General Authority for Statistics indicates that 97.7% of the population feels safe walking alone at night in their neighborhoods. In London, the figure is 68%, dropping to 58% among women.
Despite the difference in these indicators, the question remains: Why doesn’t safety carry the weight it deserves in our assessment of a place? In the economics of place, safety is not an added feature but rather invisible infrastructure. It allows people to use the city freely, walk its streets, and stay out longer. And when it declines, its hidden cost becomes apparent: caution. Caution changes our relationship with a place; we take shortcuts, leave early, avoid certain streets, and keep a watchful eye on our surroundings. In such cases, the city may be open on the map, but it is not fully accessible in experience.
Here in the Kingdom, we possess a value that we may have grown so accustomed to that we fail to recognize its true significance.
We can build a taller tower, attract a more luxurious hotel, and bring in global brands. But a sense of security is one of the hardest assets for a city to build.
The greater the sense of security, the more we are able to use, live in, and enjoy a place—and the more attractive it becomes to residents, visitors, and investors. Therefore, perhaps the question isn’t: How much does the city spend on security?
Rather: How much does it lose when people do not feel safe?
Safety does not appear in the price of real estate or a travel bill, but it may be one of the most important factors determining their value.
And this is the price of peace of mind in the local economy.
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