The $ 5.5 billion cost of Internet outages to the global economy
News_Code: 355634 1/11/2022 11:04:37 AM
The $ 5.5 billion cost of Internet outages to the global economy
A report by a digital rights group shows that Internet shutdowns will cost the global economy $ 5.5 billion in 2021.

The Top10VPN Digital Rights and Security Group annual report shows that Internet outages, social network shutdowns, and government bandwidth restrictions will cost the global economy a total of $ 5.5 billion in 2021.

According to the Top10VPN group, Myanmar's economy suffered the most from the internet shutdown. Myanmar's military came to power in a coup in February 2021, followed by widespread internet outages and social media shutdowns. Myanmar's economy lost $ 2.8 billion due to the Internet shutdown.

Nigeria was the second country to suffer the most economic losses from internet restrictions, and its economic losses amounted to $ 1.5 billion after access to Twitter was blocked in June.

According to the annual report, the government's definitive economic cost of the Internet grew by 36% last year compared to 2020.

The Top10VPN Group estimates that government outages will limit Internet access to about 486 million people in 2021, up 81 percent from 268 million in 2020.

"From advertising to customer support, social networking platforms are a vital tool for companies around the world, and when they are down, companies are severely damaged," Samuel Woodhams, co-author of the report, told Business Insider. With internet restrictions in Kazakhstan and Sudan this year, internet outages will not end soon.

According to Business Insider, the Top10VPN group estimates the economic impact of Internet shutdowns by estimating downtime worldwide.