How much money would you lose if your internet connection drops for about an hour? Sure, it would be annoying but it wouldn’t deplete your bank account, right? Well, the same can’t be said about certain companies. In fact, no internet access for a significant period of time could damage the economy.
What makes us say that? Well, Merchant Machine, a UK site that assesses merchant terminals, conducted a study to find out the financial losses companies and countries would face if there’s no internet for an hour, 10 hours, or even a full day. It also mentions the number of internet users a country boasts.
Shedding light on some alarming findings from the study, it’s worth noting that the US would lose about $57 billion in case of an internet outage. Additionally, despite China and India comprising more internet users (individually) than the US, their dependence on the internet isn’t as much as the US'. While China’s revenue loss would be almost $6 billion during an internet-deprived day, India would only lose a little over $1 billion.
In fact, a nationwide internet outage for even an hour would cost the US economy a whopping $303 billion.
Now, let’s come to the leading internet companies across the globe. Amazon, for instance, has made a name for itself due to its reliance on the internet. However, a full-day outage would serve a gigantic blow (worth over $1 billion) to the company. As for Alphabet, the parent company of Google and others, it would only lose about $500 million during a day with no internet connectivity.
But if this outage extends to a full year, Amazon’s losses could amount to approximately $386 billion. Not only that but the eCommerce giant would be out $734,399 for mere 60 seconds of internet outage across the globe.
Due to their internet-dependent nature, Google, Facebook, Netflix and PayPal were also named among the top 10 companies prone to massive financial losses in an internet outage.
For this study, Merchant Machine looked up each company’s annual revenue, and divided it by a day, then by 24 hours, and then by 60. This approach allowed them to calculate the losses per minute, hour, day, and a full year.
Data source.
What makes us say that? Well, Merchant Machine, a UK site that assesses merchant terminals, conducted a study to find out the financial losses companies and countries would face if there’s no internet for an hour, 10 hours, or even a full day. It also mentions the number of internet users a country boasts.
Shedding light on some alarming findings from the study, it’s worth noting that the US would lose about $57 billion in case of an internet outage. Additionally, despite China and India comprising more internet users (individually) than the US, their dependence on the internet isn’t as much as the US'. While China’s revenue loss would be almost $6 billion during an internet-deprived day, India would only lose a little over $1 billion.
In fact, a nationwide internet outage for even an hour would cost the US economy a whopping $303 billion.
Now, let’s come to the leading internet companies across the globe. Amazon, for instance, has made a name for itself due to its reliance on the internet. However, a full-day outage would serve a gigantic blow (worth over $1 billion) to the company. As for Alphabet, the parent company of Google and others, it would only lose about $500 million during a day with no internet connectivity.
But if this outage extends to a full year, Amazon’s losses could amount to approximately $386 billion. Not only that but the eCommerce giant would be out $734,399 for mere 60 seconds of internet outage across the globe.
Due to their internet-dependent nature, Google, Facebook, Netflix and PayPal were also named among the top 10 companies prone to massive financial losses in an internet outage.
For this study, Merchant Machine looked up each company’s annual revenue, and divided it by a day, then by 24 hours, and then by 60. This approach allowed them to calculate the losses per minute, hour, day, and a full year.
Data source.
