Fears over NSA surveillance revelations endanger US cloud computing industry:
American technology businesses fear they could lose between $21.5bn and $35bn in cloud computing contracts worldwide over the next three years, as part of the fallout from the NSA revelations. Some US companies said they have already lost business, while UK rivals said that UK and European businesses are increasingly wary of trusting their data to American organisations, which might have to turn it over secretly to the National Security Agency, its government surveillance organisation.
Of course it is highly unlikely that GCHQ or its French and German counterparts are actually any less intrusive, but that said, I suspect the budget for these organisation would not keep the NSA’s staff in Cheetos and RAM upgrades, so on that basis alone I suppose your data is probably safer anywhere but the USA.
But the perception that the USA is the very worst option in the First World from a security perspective is now going to be very hard to change, whatever the truth of the matter. I did see this coming.