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US To Lose ‘$35bn A Year’ Over NSA Spying

California’s Silicon Valley is set to lose up to $35bn (£21bn) in revenue as companies and citizens use computer services in other nations to avoid snooping by US intelligence agencies, a new study has suggested.

In a report for the Washington DC-based Information Technology & Innovation Foundation think tank, senior analyst Daniel Castro said America’s “entire tech industry has been implicated and is now facing a global backlash”.

The possible loss, which covers the next three years, is based on the assumption that many companies outside the US will buy services in other countries rather than risk copies of their data being turned over to the US government.

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