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Thu 25 Jan 2007 04:38 PM

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GCC IT spend increased 19% last year, analyst reports

Investment in IT across the GCC states jumped over 19% last year to more than US$6.8 billion, according to IDC.

Investment in IT across the GCC states jumped over 19% last year to more than US$6.8 billion, according to IDC.

This growth was lower than the previous year, however, when IT expenditure increased 23%.

Philip van Heerden, programme manager for IDC MEA told
IT Weekly

that he expected IT spending in the GCC to continue to rise, albeit at a lower rate, over the next couple of years as oil prices stabilise.

"In time, everyone expects the oil prices to mature to a more sustainable level and then we also expect the economic growth rate to grow slower," he said. "At some stage [IT spend] will definitely flatten out and maintain a high single digit number. But for the short and medium term, we expect it to stay in double digits."

Saudi Arabia and the UAE accounted for the bulk of IT spend in the GCC in 2006, making up nearly 45% and 33% of IT spending in the region respectively.

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