Cybercrime has had a significant impact on the global economy. Globally, it accounts for 73.9 percent, while in developing countries, the figure drops to 4 percent. According to a World Bank study titled "Cybersecurity Economy for Emerging Markets" from 2024, in the last 10 years, the number of cybercriminals in Mexico and Latin America has grown by 25 percent annually, exceeding the global average of 21 percent between 2014 and 2024.
One of the main reasons for the increase in cybercriminals in countries like Mexico is the lower investment in cybersecurity by companies and governments, up to 30 percent less than in developed countries. This lower level of investment has led to disruptive incidents in cyberspace potentially representing up to 2.4 percent of a country's Gross Domestic Product (GDP), according to an ESET analyst.
The sectors most vulnerable to cyberattacks in emerging economies like Mexico are governmental and health sectors, being targets of cybercriminals launching ransomware attacks to hijack data and information. Furthermore, it is noted that the number of cybercriminals has significantly increased in the last decade due to the rise in the use of IoT devices, e-commerce platforms, and digital management tools for government.
In this context, if a country could reduce the number of cyber incidents by 75 percent, it could experience an increase in its GDP of up to 1.5 percent. Strengthening cybersecurity defenses and adopting successful strategies to mitigate the negative economic impact of cyberattacks is crucial, according to Camilo Gutiérrez Amaya, head of Research for ESET Latin America.
