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The New Cybersecurity Landscape – How Are Finnish Companies Faring?

Author

Listed:
  • Mattila, Juri
  • Ali-Yrkkö, Jyrki
  • Seppälä, Timo

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.

Suggested Citation

  • Mattila, Juri & Ali-Yrkkö, Jyrki & Seppälä, Timo, 2020. "The New Cybersecurity Landscape – How Are Finnish Companies Faring?," ETLA Brief 93, The Research Institute of the Finnish Economy.
    • Handle: RePEc:rif:briefs:93
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    More about this item

    Keywords

    Cybersecurity; Digitalization; Microenterprise; International competitiveness;
    All these keywords.

    JEL classification:

    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
    • M15 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - IT Management
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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