GCC telco sector set to gain US$375 billion investment boom

The GCC telecoms sector will receive a staggering US$375 billion boost over the next 10 years according to research quoted by industry experts.

Citing figures from research group Proleads, Trevor Punt, group exhibition director for IIR Middle East, said the telco services sector will generate $70 billion in annual revenue by 2015 in the MENA region.

Punt also claimed that continued subscriber demand for mobile phones, digital technology, internet and communication solutions was encouraging investment in the region's telecoms sector.

He added that interest in telco services is showed no signs of a slowdown.

"With new and innovative technologies, the Middle East is set to become one of the most lucrative global markets with a range of business opportunities and tremendous scope for advanced communications systems," he said.

Current and active civil engineering and infrastructure projects of all kinds in the GCC countries of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates have a combined value of $1.3 trillion alone, according to Punt.

An estimated 25% of the multi-billion dollar GCC infrastructure development budgets will be spent on expanding telecommunications and internet services, according to IIR officials.

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