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Joined 10 months ago
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Cake day: January 29th, 2025

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  • It’s hard to get reliable numbers. One study I could find is a review published by the World Bank in 2024 that analyzes the long-term development of cyber incidents and their economic costs. Among others, it says:

    According to the UK Cabinet Office, in 2011, the UK government estimated that the costs of cybercrime was USD 33.67 billion or about 1.3% of the country’s GDP, with the largest share posed to businesses—about 77.78%. Grant Thornton (2021) shows that in 2014, the total cost of cybercrime in Ireland was USD 695.5 million, and then, in 2020, it increased dramatically to USD 10.5 billion, or 2.5% of the country’s GDP.

    Source (pdf)

    Note that the 1.3% of UK’s GDP and Ireland’s 2.5% relate to 2011 and 2014, respectively. So we may reasonably assume it’s much higher. Although the numbers in this review are probably not fully comparable with Bitkom’s survey, it provides useful insights, and the 5% don’t seem so far-fetched.