MENA IT spending to grow 12% in 2010 says IDC
MENA set to see IT spending grow 12% in 2010, compared to the global average of 3%
IT spending in the Middle East and North Africa region is set to grow at four times the global rate this year, according to new research revealed this week.
The MENA region is set to see IT spending grow 12% in 2010, compared to the global average of 3%, according to IDC, a global market intelligence company that specialises in information technology, telecommunications and consumer technology markets.
The report said global IT spending was likely to reach $1.48 trillion this year.
The research follows news that on Monday that Emirates Integrated Telecommunications Company (du) said it was planning to raise AED1bn ($273m) through a rights issue.
The capital raised will fund an accelerated growth strategy, the Dubai telecom operator said. Du added that it plans to use the capital to "deliver on its commitment to customers by continuing to enhance network capabilities and expand fixed and mobile infrastructure".
Etisalat, du's main rival in the UAE, said in February that it has cash reserves of about AED10bn ($2.7bn). However, it is planning to use the capital to further its overseas expansion plans.