AfterDawn: Tech news

Egyptian Internet shutdown could cost nation $90 million, says OECD

Written by Andre Yoskowitz (Google+) @ 07 Feb 2011 0:34 User comments (2)

Egyptian Internet shutdown could cost nation $90 million, says OECD Organisation for Economic Co-operation and Development (OECD) has said this weekend that Egypt's decision to shutdown the Internet could cost the nation $90 million, or about $18 million for each day of the 5 day shutdown.
Overall, telecom and Internet services account for 3-4 percent of GDP in the country.

The organization says the greater implications may be worse, however, since Egypt has been working for years to attract tech firms to the nation:

The shutdown will make it much more difficult in the future to attract foreign companies and assure them that the networks will remain reliable.

One such example, is that of Vodafone, which was forced to hire 100 new workers in New Zealand when its call center and staff of 180 became unreachable in Egypt.

Continues OECD (via PCM):

Therefore, while the direct costs of shutting down telecommunication networks are still significant, the true social and economic costs will be much higher. Egypt will need to regain the confidence of customers around the globe if it still wants to be considered a key ICT hub for business again.

Previous Next  

2 user comments

17.2.2011 0:43

Enjoy destroying your economy.

27.2.2011 0:48

That is actually a lot less than I figured...given that the stock market shut down...the costs of that are beyond estimation.

Comments have been disabled for this article.

Latest user comments

News archive