The General Data Protection Regulation (GDPR) is considered “the world’s strongest set of data protection rules,” enforcing limits on what organizations can do with personal data in the EU.
Its enforcement since 2018 led to varying effects in countries outside the EU, inspiring new data privacy laws around the world. Commercially speaking, it has become a trading measure for countries to do business with the EU. Especially if they want to get a piece of the EU’s data processing market, or want to sell to European residents, they will have to follow and comply with the rules and regulations set forth by the GDPR. Some countries incorporated GDPR’s provisions into their existing privacy laws, while others have enacted nationwide GDPR-like legislations.