Home / / Investment in Egyptian ICT set to soar

Investment in Egyptian ICT set to soar

Business IT outsourcing and government incentives among drivers of growth, according to BMI report.

Investment in Egypt's ICT sector is set too reach $960 million by the end of 2007, and $1.3 billion by 2011, according to a report from UK analysts, Business Monitor International (BMI).

The figures are part of BMI's last quarterly report for 2007 on Egypt's ICT sector, which covers investment in PCs, broadband internet subscription, software industry and IT services including business process outsourcing (BPO).

Much of the growth in Egypt's ICT sector is attributed to BPO, with the BMI report predicting that Egypt's IT service sector, which includes BPO, will reach $278 million by end of 2007, and will increase to $379 million in 2011. The report also referred to Egypt's success in attracting a number of international companies recently.

The Egyptian government's support for the ICT sector is partly responsible for the levels of growth predicted by the report, according to BMI, which points to initiatives to ensure every household has a PC, and every professional has a laptop computer.

"These initiatives and others have targeted an increase in the percentage of computer ownership among the Egyptians, which will lead to a 271% rise in broadband internet subscription by 2011," the report stated.`

Follow us to get the most comprehensive IT business news delivered fresh from our social media accounts on Facebook, Twitter, Youtube, and listen to our Weekly Podcast. Click here to sign up for our weekly newsletter on curated technology news in the Middle East and Worldwide.