With a global shortage of cybersecurity professionals, there is a unique opportunity
for young people to step into high-impact roles that protect economies and national security alike
Cyberattacks are wreaking havoc on economies worldwide, with costs expected to rise sharply from $9.22 trillion in 2024 to $13.82 trillion by 2028, according to Statista’s Market Insights. This financial strain is compounded by a severe shortage of cybersecurity professionals, a gap that opens up both risks and opportunities for economies and individuals alike. As cyber threats continue to grow, the need for qualified professionals is more pressing than ever, creating a promising path for young people to make an impact in one of the fastest-growing fields in technology. The global market for Cyber Warfare was estimated at US$95 billion in 2023 and is projected to reach US$287.4 billion by 2030, growing at a CAGR of 17.1% from 2023 to 2030, according to a Research and Markets report.
Political Events as Catalysts for Cyber Attacks
Cyberattacks often spike during major political events, such as national elections, as hackers seek to influence political outcomes or exploit the heightened sensitivity around these events. In both the United States and India’s 2024 elections, for instance, cyber threats surged, with state-backed actors and independent cybercriminals actively targeting election infrastructure and personnel.
In the US, agencies identified foreign actors from Russia, China, and Iran attempting to infiltrate US election infrastructure to gather sensitive information or disrupt campaigns. The Election Infrastructure Information Sharing and Analysis Center (EI-ISAC) found that, alongside state-sponsored hackers, financially motivated ransomware operators posed significant threats by targeting influential figures and holding critical data hostage in hopes of a lucrative payout.
Similarly, India’s 2024 general election witnessed a spike in cyberattacks, driven by hacktivist groups who compromised systems and published stolen data from Indian citizens on the Dark Web. Cybersecurity firm Resecurity documented this wave of malicious activity, underscoring how political milestones are prime opportunities for threat actors seeking either financial gain or influence. This intensifying cycle of cyber interference highlights a key vulnerability, as many nations struggle to keep up with the influx of threats during politically charged times.
The Cybersecurity Talent Shortage: A Growing Opportunity for Young Professionals
The cybersecurity skills gap is a critical vulnerability worldwide, with more than 3.4 million positions unfilled in 2023, according to a report by ISC2, a leading cybersecurity certification organisation. This shortage exists in virtually every region, from the US and Europe to Asia and Africa. In the United States alone, there are approximately 700,000 unfilled cybersecurity positions, according to CyberSeek, a program funded by the National Initiative for Cybersecurity Education. This gap leaves systems more vulnerable to attack and also increases the workloads of existing professionals, who are often stretched thin managing complex security needs across multiple sectors.
For young people and career changers, this shortage represents a high-potential pathway. Cybersecurity offers not only job security but also the chance to work across diverse industries, as demand for these skills has permeated healthcare, finance, manufacturing, and energy. Many organisations are turning to online training, boot camps, and certifications to quickly bring individuals up to speed, making it more accessible than ever for interested professionals to enter the field.
According to Burning Glass Technologies, a labour market analytics firm, cybersecurity jobs are projected to grow by 31% from 2020 to 2030, a rate much faster than average for other sectors. Given this strong demand, individuals with skills in areas like penetration testing, threat intelligence, and network security can expect robust career prospects and competitive salaries. For example, in the US, entry-level cybersecurity analysts can earn around $75,000 per year, with salaries increasing significantly with experience and specialisation.
Economic Impact of Cyber Attacks: The Financial Stakes Are Rising
The financial fallout from cyberattacks extends beyond immediate damages, such as ransoms or stolen assets, into longer-term costs like regulatory fines, brand damage, and customer compensation. Companies that experience data breaches face stiff penalties under regulations like the General Data Protection Regulation (GDPR) in the European Union and the California Consumer Privacy Act (CCPA) in the US These regulations impose high fines on organisations that fail to safeguard user data, making cybersecurity a business imperative as well as a regulatory requirement.
For instance, ransomware attacks – which have more than doubled since 2020– have led to insurance premiums skyrocketing and organisations allocating larger budgets toward cyber defence. These costs, however, are only partially effective without skilled personnel to implement cybersecurity strategies. Ransomware-as-a-Service (RaaS) models, for instance, make it easy for even low-skill hackers to launch sophisticated attacks, meaning organisations must continually invest in both technological and human resources to stay protected.
Cybersecurity in Modern Warfare: A New Frontline
Cyber warfare is increasingly integrated into military strategy, with cyber operations often serving as a precursor to physical invasions. The 2022 Russia-Ukraine conflict showcased this approach: Russian cyberattacks targeted Ukrainian infrastructure, aiming to disrupt communications and cripple defence systems. By compromising command and control capabilities, these cyber offensives gave Russian forces an advantage on the battlefield, highlighting the critical role of cybersecurity in modern warfare.
As cyber warfare becomes an established tactic, nations are beginning to view cybersecurity not only as a means of defending against financial losses but also as a matter of national security. This shift has led to increased government investment in cyber defence and has made cybersecurity an attractive career for those interested in protecting critical infrastructure and supporting national defence.
Building a Future-Proof Workforce for a Digital World
Addressing the cybersecurity talent gap requires concerted efforts from educational institutions, governments, and businesses. Schools and universities are gradually integrating cybersecurity skills into their curricula, recognising the need to equip young people with digital skills that align with job market demands. Governments can also play a key role by offering incentives, such as scholarships or loan forgiveness, for individuals pursuing careers in cybersecurity.
International cooperation is equally important, as cyber threats are not confined to national borders. Nations need to work together to establish cybersecurity standards, share threat intelligence, and create frameworks for addressing cross-border cyber incidents. By collaborating, governments and businesses can take more proactive steps to close vulnerabilities and mitigate the growing financial toll of cyberattacks.
Looking Ahead: Cybersecurity as a Vital Career Path
The escalating costs of cyberattacks, the uptick in threats around political events, and the role of cyber offensives in modern warfare make it clear that cybersecurity will only grow in importance. With a global shortage of cybersecurity professionals, there is a unique opportunity for young people to step into high-impact roles that protect economies and national security alike. As digital threats become a central challenge of the 21stcentury, the call for cybersecurity talent is both a challenge and an invitation to build a safer digital world.
For those ready to take on this challenge, cybersecurity offers not only a stable and lucrative career but also a chance to make a real difference in safeguarding the digital infrastructure on which we all rely. As technology advances, the need for cybersecurity will continue to expand, positioning this field as one of the most promising and vital for the next generation.