Downtime costs European businesses £300k per hour on average

Global Switch has released findings from a pan-European survey, revealing that IT downtime costs European businesses on average £300,000 per hour.

50 percent of business service providers claim that one hour of downtime could incur costs of between £501,000 and £1 million. Financial institutions follow close behind, with 23 percent predicting costs of between £51,000 and £100,000 and a further 18 percent estimating costs in the region of £101,000 to £500,000. This sector shows the most conscientious approach to business continuity planning, and boasts the highest usage of fit-for-purpose IT environments, which satisfy the cooling and power requirements of new technologies, while also offering maximum physical protection.

•Date: 11th May 2007 • Region: UK/W.Europe •Type: Article •Topic: BC stats
Rate this article or make a comment - click here