Rising Crime Forces Iconic Chilean Bar to Cut Hours
A historic bar in Santiago, Chile, faces earlier closures and declining sales due to increased crime rates impacting the economy. Businesses like La Piojera are experiencing significant drops in revenue and adapting strategies as crime costs the country 2.6% of its GDP each year.
Iconic Santiago bar, La Piojera, is feeling the economic sting of Chile's rising crime rates, leading to earlier closing times and diminished sales.
A study by CLAPES UC reveals Chile's economy loses 2.6% of its GDP annually due to crime, affecting businesses like La Piojera and resulting in reduced investment and higher security expenses.
As murder rates rise, businesses adapt with discounts, while locals, like student Jose Tomas Rodriguez, shift social routines to earlier hours.
(With inputs from agencies.)
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- La Piojera
- Chile
- Santiago
- crime
- economy
- businesses
- sales
- closing hours
- security
- investment
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