The New Cybersecurity Landscape – How Are Finnish Companies Faring?

Abstract

Cyber threats are rapidly increasing around the world. In Finland, the amount of data breaches has doubled in a couple of years. The cost of being targeted for a cyber attack is estimated to increase even more rapidly. However, the economic effects of cyber threats on the Finnish economy are not comprehensively understood. Especially, very little is known about the state of microenterprises in this regard.

While the level of cybersecurity in Finnish companies is above the European average, Finland is falling behind the top countries according to many different indicators. Especially data leaks appear to be particularly challenging for Finnish companies.

The global demand of cybersecurity products and services is growing quickly. In Finland, however, this growth is restricted by a shortage of skilled cybersecurity professionals. As Finland invests heavily in the improvement of digital skills, the question arises whether these efforts are focused correctly in regards to competences in cybersecurity.

Publication info

Results of research
BRIE-Etla 2019-2022
Research group
Business renewal
Series
ETLA Muistio - ETLA Brief 93
Date
14.12.2020
Keywords
Cybersecurity, Digitalization, Microenterprise, International competitiveness
ISSN
2323-2463
JEL
L86, M15, O33
Pages
10
Language
Finnish