78% of Middle East Businesses Expect Cyberattacks, Only 46% Prepared

A new study by Cloudflare, Inc. (NYSE: NET) reveals that 78% of businesses in the Middle East and Türkiye expect to face a cyberattack in the next 12 months, yet only 46% feel adequately prepared to handle such incidents. The research, which surveyed nearly 1,000 business and technology leaders across the Middle East and Türkiye, highlights growing cybersecurity concerns in the region.

The report shows that 82% of organizations have already experienced at least one cybersecurity incident in the past 24 months, with many reporting multiple attacks. Alarmingly, 84% of those attacked in the last year said the number of incidents has increased compared to previous years, with 42% indicating a significant rise. Nearly half of the businesses affected reported between one and ten incidents in the past year, while 27% experienced between 11 and 30 attacks.

Businesses in industries such as Financial Services (63%) and IT & Technology (61%) are frequent targets, while the Healthcare sector (49%), despite holding sensitive data, experienced fewer attacks. Medium-sized companies are particularly vulnerable, with 58% reporting incidents in the past year, compared to 39% of smaller firms.

Cyber threats in the region are increasingly common, with web attacks (69%), malware (62%), and phishing (55%) being the most reported types. Ransomware, business email compromise, and API attacks also pose significant risks.

The financial toll of cyber incidents is substantial. Among the 53% of businesses that suffered an attack last year, 77% estimated financial losses of at least US$1 million, with 38% reporting losses of US$2 million or more. In addition to financial losses, 38% of businesses had to pause growth plans, and 37% were forced to lay off staff due to the impact of these attacks.

To combat rising threats, 74% of businesses plan to increase their cybersecurity budgets over the next year, focusing on protecting their networks. While encryption is the most widely deployed security measure, only 15% of businesses have fully implemented Secure Access Service Edge (SASE), and Zero Trust adoption remains slow, with 57% still in the early stages of implementation.

Bashar Bashaireh, RVP Middle East and Türkiye at Cloudflare, highlighted the growing complexity of cybersecurity challenges and the need for innovative cloud-based solutions to help businesses turn these challenges into opportunities for growth and innovation. As cyberattacks increase in both frequency and severity, businesses in the Middle East and Türkiye must prioritize cybersecurity to protect their operations and future growth.