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FinancialNews


  • 20-02-12

    ME's IT spending to grow 11% in 2012

    (MENAFN) The International Data Corporation (IDC) said that IT spending in the Middle East would be forecasted to grow 11 percent in 2012 from a year earlier to reach USD21.5 billion, reported Gulf News. The IDC added that the growth comes as firms further invest in "game changing" technologies, including cloud services and social networking. It also said that GCC countries would account for 70 percent of overall IT spending in the Middle East in 2012, whereas the UAE and Saudi would represent 55 percent of IT spending in the region. It is worth noting that Egypt recorded a decline in IT spending levels in 2011 amid continued protests, while Iran is also expected to witness a fall in spending in 2012 as tensions grow over the country's nuclear program.

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