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FINANCIAL NEWS
Saudi IT spending to grow 17% this year
08 Sep 2010
(MENAFN) Saudi Arabia’s Communication and Information Technology Commission (CITC) said in its annual report showed that the Kingdom’s IT spending is expected to post a 17 percent growth this year and nearly $9.86 billion by 2013.
The kingdom�s IT market is expected to achieve a compound annual growth rate (CAGR) of 13.4 percent over the next three years, according to the.
Sustained government expenditure, the growing number of mega-infrastructure developments, enhanced business landscape, and continued adoption of technology-based services such as IT outsourcing have been identified as the catalysts for the increase in demand for various IT products and services.
Gitex KSA, which will run concurrently with Saudi Communications 2011, has been expanded and enhanced to enable trade exhibitors to strengthen their foothold in the Saudi market and benefit from the country’s solid growth prospects.
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