Sustainable Innovations and Startups in the MENA Region

United States

According to data from the IBM Security and Ponemon Institute, the cost of a data breach in the Middle East is $8.07 million USD in 2023, up 8.2% from $7.46 million in 2022. This is alarming, not only because the cost is well above the global average cost of $4.45 million, but also because of the sharp 8.2% year-on-year increase, which is much higher than the 2.3% global average increase. The US still lays claim to having the highest cost of data breaches, but the Middle East is not far behind. It&#39;s time to start investing more heavily into cybersecurity measures.

Middle East Ranks 2nd in World in Terms of Data Breach Costs

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Just when you thought you were doing enough, turns out we&#39;re not doing enough at all. The only two things on this list that our uber sustainability-conscious Editor-in-Chief, Erika doesn&#39;t do is run the dryer and have a beer. ...But she is asking if wine counts. It&#39;s gotta count, right? Turns out, we all need to give up driving combustion-engine vehicles, eating meat and flying planes, among a whole other host of activities. But if we stop driving in gas-powered cars, we could do the world a whole lot of good. Have a think about it and see what you might want to give up this year to do your part for the planet. Owning a Tesla or a BYD has never been cheaper. There&#39;s also 500 other electric vehicle models available for you to consider in 2023. Alternatively, Erika&#39;s decided to spend a lot more on carbon offsets, because sometimes - you gotta do what you&#39;re gotta do.

Emitting CO2 Emissions Like Nobody Else

Activities That Emit the Most CO2 per Year Based on US Average

Switzerland headquartered bank, UBS AG, has reported that the Middle East is expected to grow from a Digital Economy that was approximately valued at $180 billion in 2022, to more than quadruple to be valued at $780 billion by 2030. That&#39;s roughly a 20% average growth rate per year. This would make the Middle East one of the fastest growing digital economies globally, especially as the global digital economy is expected to double in that same time period. 
 
UBS also claims that their estimates may prove to be conservative as the digital economy penetration as a percentage of the region&#39;s GDP is expected to rise from 4.1% in 2022 to 13.4% in 2030, which is still below today&#39;s 15% or so penetration levels observed in advanced economies like the United States.

The Middle East ranks second in terms of cost of data breach globally

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