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Gulf to spend 11.6% more on IT
- Middle East: Saturday, January 12 - 2008 at 11:26
Spending on information technology in the Gulf countries could rise 11.6 per cent to $8.56bn this year, an industry research group said, reported Gulf News. Last year IT spending in the Gulf Cooperation Council totaled $7.67bn, according to International Data Corp (IDC). Saudi Arabia, the largest Gulf Arab economy, will lead the IT spending followed by the UAE in 2008. IDC said the kingdom will spend $3.76bn, or 11.28 per cent more than what it spent in 2007. The UAE will spend $2.99 billion this year compared to $2.66bn last year. The region's total IT spending in 2006 stood at $6.82bn. IDC believes IT spending will rise by 14 to 15 per cent each year for the next three years. In the UAE, IT spending is likely to grow by 19 to 20 per cent.
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Amena Bakr, Senior ReporterSaturday, January 12 - 2008 at 11:26 UAE local time (GMT+4)
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