Nordic cybersecurity: The region’s next powerhouse?

| McKinsey Direct

With their unique geopolitical structure, globally competitive industries, and recent technology growth, the Nordic countries are at the forefront of digital transformation. However, this progress comes with a growing challenge: The region is a prime target for cyber espionage and attacks, thanks to its reliance on cloud architecture, high internet penetration, and advanced digital infrastructure—as well as its strategic geopolitical importance.

In fact, the Nordics have recently seen a sharp increase in cyberattacks across industries, from software companies and identity providers to national healthcare systems. About 50 percent of Finnish organizations experienced cyberattacks in 2024,1 and industry reports show a 30 percent increase in cyberattacks in Sweden.2 Distributed denial-of-service attacks in Sweden increased by 466 percent after the country was accepted into the NATO alliance, similar to Finland’s experience during its NATO accession in 2023.3

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