That doesn't mean that you're necessarily at risk of any lawsuits or effective action, but what you're stating is wrong. Physical presence has nothing to do with it.
With exception of large, international organizations, that doesn't apply to nearly all business outside the EU.
https://ec.europa.eu/info/law/law-topic/data-protection/refo...
>When the regulation does not apply
>Your company is service provider based outside the EU. It provides services to customers outside the EU. Its clients can use its services when they travel to other countries, including within the EU. Provided your company doesn't specifically target its services at individuals in the EU, it is not subject to the rules of the GDPR.
"In order to ensure that natural persons are not deprived of the protection to which they are entitled under this Regulation, the processing of personal data of data subjects who are in the Union by a controller or a processor not established in the Union should be subject to this Regulation where the processing activities are related to offering goods or services to such data subjects irrespective of whether connected to a payment. In order to determine whether such a controller or processor is offering goods or services to data subjects who are in the Union, it should be ascertained whether it is apparent that the controller or processor envisages offering services to data subjects in one or more Member States in the Union. Whereas the mere accessibility of the controller's, processor's or an intermediary's website in the Union, of an email address or of other contact details, or the use of a language generally used in the third country where the controller is established, is insufficient to ascertain such intention, factors such as the use of a language or a currency generally used in one or more Member States with the possibility of ordering goods and services in that other language, or the mentioning of customers or users who are in the Union, may make it apparent that the controller envisages offering goods or services to data subjects in the Union."
EU laws simply do not apply to the world, even if the EU thinks they should.
Perhaps not, but the EU is the world's second-largest economy (only $2tn behind the US and $4tn ahead of China) accounting for about 1/5th of the global economy.
If one wants to operate a company that does international business, one will probably want to do business in the EU, which means following EU law in such matters.
If so, why did everyone scramble to meet the requirements. Was it a scam?
If you're small enough, then the EU won't bother doing anything.
If you don't even depend on any 3rd party that is vulnerable to EU will then you can fully ignore everything. That can be tricky to achieve though. No common money transfer methods and you must be self-hosting.
Also, all of this isn't new. The US has been enforcing its will globally in a similar fashion for a long time.
Technically, the law applies to everyone worldwide, regardless of location. However, if you have no business in the EU and don't plan to expand your current business operations to the EU, you don't need to worry.
Hell, if you don't meet the requirements, the relevant enforcement departments generally give you plenty time to implement the necessary requirements or block access if you're a dick. The exception, of course, is data brokers and huge companies like Facebook or Google where the impact is much larger.
The GDPR doesn't expose you to lawsuits from anyone but the privacy monitoring instances of EU member states. The average American blog or news site isn't nearly large enough for any government instance to start a lawsuit.
You can also ask yourself: so what if they fine my company a €10.000. They're not going to send a team of special forces over the Atlantic or through Russia just to extract the cash from you. You only need to pay the fine if your company ever needs to do business in the EU. If your company structure makes your personally liable, this also impacts your future holiday destination decisions, but you can live perfectly fine without seeing the Eiffel tower.
A lot of very similar laws are also being passed in California right now, which will probably be a lot more dangerous than any GDPR restriction, but if you follow the GDPR you're pretty much set to protect yourself from Californian lawsuits as well.
Most of the GDPR is just "don't be a dick with people's data". If the fear of not meeting requirements stops the free-for-all data exchange market, then I'm perfectly fine with that.
A lot of people also have the misconception that the EU cookie law applies to them, even if they are not in the EU and have no EU physical presence.