A single day without internet could cost the world $43 Billion

As technology continues to evolve, the integration of Internet networks has become a fundamental aspect of institutional systems and sectors worldwide. In fact, even the average individual now heavily depends on the Internet for the simplest aspects of their daily lives, reported Al-Qabas Daily.

Needing directions to a nearby location? Many turn to Google Maps without a second thought. A recent report released by Atlas VPN, a virtual private network services company, has shed light on the significant financial impact that a single day without the Internet could have on the global economy.

According to the report, this loss could amount to a staggering $43 billion, showcasing just how reliant the world has become on communication and Internet networks. The United States and China, as the largest economies, jointly account for nearly half of this estimated amount. To assess the economic impact of Internet outages, the company utilized the cutting-edge “NetBlocks” tool.

This tool draws on data from reputable sources, including the World Bank, the International Telecommunication Union, Eurostat, and the US Census Bureau. The findings from the report emphasize the interconnectedness of our modern world and the deep-seated reliance on the Internet. It has become so ingrained in our daily lives that the absence of Internet access, even for a single day, can have profound consequences on various sectors and economies around the globe.