By Elsa Baxter
Kingdom is the Gulf's biggest IT market, almost half of total Mideast IT spend.
Saudi Arabia has been named the biggest IT market in the Gulf region by Business Monitor International (BMI) and accounts for almost half of the total Middle East IT spend.
The kingdom’s IT spend is forecast to grow over the next four years from $3.6bn in 2009 to $4.9bn by 2013, boosted by its multi billion dollar economic city mega projects.
Investment in education is also benefiting the IT market, with the recently opened King Abdullah University of Science and Technology (KAUST) home to one of the world’s fastest supercomputers.
“Saudi Arabia is quickly establishing itself as a key international IT hub,” said Helal Saeed Almarri, CEO, Dubai World Trade Centre.
“Saudi is easily the largest market in the Gulf and its rapidly evolving economy demands world class IT solutions.”
The World Trade Centre is set to host the Gitex Technology Week next month, at which thousands of Saudi executives are expected to attend, Almarri said.
“With the Middle East ICT sector remaining buoyant at a time when more established markets are experiencing a slowdown, global companies are focusing heavily on strengthening their presence in the Gulf region’s strongest IT market,” Gitex said in a statement on Wednesday.
The trade show will run from October 18-22.