ASSESSING THE ECONOMIC EFFECTS OF GDPR COMPLIANCE ON EUROPEAN BUSINESSES

Authors

  • Adrian Cuevas Talens Author

Abstract

The General Data Protection Regulation (GDPR), implemented by the European Union (EU) in May 2018, represents one of the most comprehensive data protection frameworks in the world. This research paper examines the economic effects of GDPR compliance on European businesses. Through a detailed analysis of market data, compliance costs, and business practices, the paper explores the impacts on various sectors, highlighting both challenges and opportunities. The findings indicate that while GDPR compliance has introduced significant costs and operational changes for businesses, it has also driven improvements in data management practices, enhanced consumer trust, and created competitive advantages for compliant firms. The study provides policy recommendations to optimize the economic benefits of GDPR while mitigating its burdens on businesses.

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Published

2024-09-06

Issue

Vol. 7 No. 2 (2024): Economic Review of the European Union

Section

Articles