CISOs Still Expect Cyber Budget Increases Amid Economic Pressure
CIODIVE, Thursday, June 1,2023
Nearly 3 in 5 CISOs or IT decision makers have seen their cybersecurity budgets increase this year, despite widespread concerns about a recession or economic slowdown, according to a study
The survey results follow recent findings about the pressures facing IT security teams due to the economic slowdown. Companies are under pressure to slash overall spending and reduce hiring, however malicious cyberattacks remain a major threat to the business.
'We expected to see a marked reduction in cybersecurity spending due to economic concerns, however the research reveals data to the contrary,' J.R. Cunningham, CSO at Nuspire, said via email.