Middle East IT spending to grow 15% this year says IDC

IT expenditure in the Middle East will grow three times faster than global average analyst company says

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By  Mark Sutton Published  March 6, 2008

Analyst company IDC says that IT spending in the Middle East will outstrip the global average this year, as companies invest in new systems to help manage the rapid pace of economic growth. IDC says that IT expenditure will grow by 15% in the Middle East in 2008, against a worldwide average growth of just 5%.

The fast rate of economic growth is increasing reliance on IT solutions for all aspects of business, which in turn is placing more responsibility on chief information officers and other IT managers to ensure that IT delivers, according to Jyoti Lalchandani, vice president and regional managing director of IDC MEA.

"With enterprises turning to increasingly sophisticated IT solutions, not just to face the competition but simply to keep up with growth. CIOs will feel they carry the weight of the company on their shoulders. And in many ways they do, as they must ensure firms have tools and solutions that keep them agile and in step with the larger regional developments," he said.

IDC is organizing its first regional CIO summit, which will be held in Dubai on 16-17th March, to help CIO's address these issues. The event is being organized in partnership with Dubai Internet City, with presentations from a large number of leading vendors.

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