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FINANCIAL NEWS
Saudi Spending on IT, telecom to hit USD28.98b in 2014
15 Aug 2014
(MENAFN) Saudi Arabia spending on telecom and it is expected to rise, reaching USD28.98 billion in the current year, compared to USD 27.35 billion spent last year, Arab News reported.
During the 2001-2013 period, the spending on telecom and IT in Saudi Arabia stood at USD 195.03 billion, with an average of USD15.01 billion a year. The growth started in 2001 with USD4.7 billion and grew to reach USD27.46 billion in 2013.
The continued telecom and IT spending growth is mainly due to the growing number of IT services provided to the public, especially in the areas of e-government, banking and health care services.
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