You don't have to be traveling in say, Italy or France, to be worried about being held at knifepoint for your valuables. You could have that happen right in your home. So security only goes so far.
Our devices are basically uncrackable by criminal types. But yes, someone could threaten bodily harm and even require I give them a password while they hold my iPhone. Then if they are really going to pull off stuff they'd kill me and empty my accounts over time or wait until I help them do so. So that's why I keep our doors locked and deploy normal security measures.
Getting back to just travel, Europeans move about all the time with electronic devices in their pockets. There are many tourists that are somewhat careless with their pocket items like wallets and phones. Many I am sure are less secure then ones we deploy. We take better measures then most to protect devices so I think criminals will go after the low hanging fruit.
And I don't mean to be pooh-poohing these concerns. I've considered the worst especially when I am tired at nights and worried about everything.