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FINANCIAL NEWS
Tech to improve trade diversification in Saudi Arabia
27 Jan 2016
(MENAFN) Saudi Arabia is making efforts to diversify by changing itself into a knowledge-based economy, while ICT continued to view huge growth.
Moreover, the Kingdom’s strong economic growth drives increased business activity and investment inflows among national infrastructure construction.
Accordingly, Saudi Arabia’s ICT spending in 2014 totaled USD 29.83bn, whereas telecommunications services and hardware accounted for 65 percent and 23 percent.
ICT investment in the Kingdom in the cited year reached USD 4.75bn, packaged and in-house developed software accounted for the best share of ICT investment.
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