The UAE is set to spend almost $5bn on technology this year, as the Gulf becomes one of the world’s fastest-growing regions for IT expenditure.Significant growth is also predicted in Saudi Arabia and Qatar, according to a new report by the US-based global technology consultancy IDC.
“The UAE stands out as a key hub in the Middle Eastern and Africa region,” said Jyoti Lalchandani, vice president and regional managing director at IDC’s Middle East office, in comments published by UAE daily The National.
The UAE leads the way in the MENA region and is forecast to spend $4.79bn on IT this year, an increase of 12.4 percent on last year.
Companies in the Middle East and Africa are set to spend $49.77bn this year, with the Gulf region expected to contribute about 25 percent of the total, Lalchandani told the paper.
“It will be the fastest growth region worldwide,” he said.
He noted that regional spending fell last year by about 5 per cent to $44bn due to the impact of the global financial crisis, adding that technology spending appears to be on the rebound.
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