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UAE to spend $15 Billion on IT and communications by 2011
Thursday, 25 September 2008, 23:05 IST
Dubai: The United Arab Emirates' (UAE) expenditure on information and communications technology (ICT) is expected to rise to $14.8 billion by 2011, the Gulf News daily reported.
The country has been a leader in the Middle East when it comes to spending on ICT and currently spends about $11.4 billion on the sector.
Spending on information technology in the UAE is expected to reach $2.3 billion by 2012, with a continuous annual growth of 23.9 percent, research firm International Data Corporation (IDC) said in a recent report.
In the coming years, IDC expects IT services spending in the UAE to continue to expand rapidly, fuelled by a strong economy, a maturing IT market and increased foreign investment.
In 2007, IT services spending in the country surged 41 percent to nearly $791 million.
According to the report, the largest chunk of spending in the UAE ICT market is in the consumer sector and the spending in this segment is expected to reach $6.8 billion in the next three years from the current $5.3 billion.
The UAE is also currently spending nearly $1 billion in communications, energy, utilities, and government sectors.
A lot of attention in the sector will be focused on Gitex Technology Week, taking place in the UAE in October.
Major international exhibitors at the event include BlackBerry, Dell, Microsoft Dynamics, Oracle Systems, Panasonic, Sharp and Symantec.
The exhibition has also attracted many companies from within the UAE such as Al Yah Satellite Communications, Etisalat, UAE Roads and Transport Authority (UAE-RTA) and Thuraya.
"Many ICT companies from across the world are using the UAE as a base for their Middle East global operations. Gitex is helping with this increase in spending by allowing companies to connect with businesses and establish lasting working relationships," said Helal Saeed Al Merri, Director General, Dubai World Trade Centre, organisers of Gitex Technology Week.
Source: IANS
Source: IANS