$491 Billion Spent for the Malware and Data Breaches

According the National University of Singapore (NUS) predicts that companies around the globe will spend around $491 billion in 2014 for fixes and recovery from data breaches and malware.

$491 billion is a lot of change and in the spirit of Mobile Threats Rise 261% in Perspective. Sponsor and Microsoft also noted that pirated software tweaked with intent is a common method of getting inside. Consumers will likely spend $25 billion as a result of those security threats.

The malware market is on par with the likes of defense budgets, nuclear disasters, overall energy consumption and an entire country’s import bill. 

It is often hard to quantify such large dollar amounts but when compared to the other $491 billion items, you can get a real sense of the magnitude.

According to Indian finance Minister P Chidambaram reiterated that India can ill afford an oil import bill of $164 billion out of its total import bill of $491 billion in 2012-13.

According to the Global Business Travel Association (GBTA) Foundation business travel was responsible for about 3% of U.S. GDP in 2012 or $491 billion. Essentially, every dollar of business travel spending generated about $1.28 in GDP.

According to US Household Debt as a percentage of disposable income from 1989 to 2004, for the first four income quintiles and the top two deciles, the increase in debt per family was 261%, 170%, 131%, 90%, 103%, 93%.  

So during the credit boom the poorest families increased their debt, proportionally, the most.  It has now dropped to 2004 levels of around 110% on average.

his was when we were still in Iraq and the only reason I find this interesting is that the cyber-war can now cost as much as real wars. 

Not really apple to apples admittedly, but I often talk about how our digital worlds are colliding integrating with our physical lives.

According to U.S. motorists may spend a record $491 billion for gasoline, fuel prices have been high this year because of expensive oil and increased exports of gasoline and diesel to other countries. 

Gasoline prices may decline for a few weeks after the switch to winter blends, which are less costly to produce than summer blends. But gas price woes won't go away.

Author Venkatesh Yalagandula Follow us Google + and Facebook and Twitter