From AAIA Capital Report
WASHINGTON, D.C. – A new report from the International Chamber of Commerce (ICC) indicates that the global economic and social impacts of counterfeiting and piracy will reach $1.7 trillion by 2015 and will put 2.5 million jobs at risk each year. The report was released Feb. 2 during the Global Congress on Combating Counterfeiting and Piracy, which took place in Paris.
The report shows that, based on 2008 data, the total global economic and social impacts of counterfeit and pirated products are as much as $775 billion every year. The impact is likely to double to $1.7 trillion by 2015, due in part to rapid increases in physical counterfeiting and piracy, as measured by reported customs seizures and greater worldwide access to high-speed Internet and mobile technologies. This includes impacts of lost tax revenue and higher government spending on law enforcement and health care.
The report further shows that international trade in fakes currently accounts for more than half of counterfeiting and piracy, and could grow to as much as $960 billion by 2015. Domestic production and consumption will account for between $370 billion and $570 billion, and digitally pirated music, movies and software for as much as $240 billion in 2015.
The full report can be viewed here.
