Submitted by antarchi on October 20, 2007 - 00:10.
Private Military and Security Companies (PMSCs) have grown exponentially in recent years due to the occupation of Iraq. Iraqi contracts boosted the annual revenue of British PMSCs alone from £320 million in 2003 to more than £1.8 billion in 2004. One recent reports estimates that there are 48,000 mercenaries in Iraq. Income for the industry reached $100 billion in 2004.