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IT Expenditure of MENA Region to Grow 12% in 2010
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IT Expenditure of MENA Region to Grow 12% in 2010

Apr 26, 2010
The MENA IT market, set to enjoy 12% growth this year, exhibits an expansive platform for IT growth, which will foster the development of associated sectors.

According to IDC, Middle East and North Africa region (MENA) is expected to see four-fold higher growth in its IT spending than the global rate in 2010, as per the news published by Arabian Business.

In simple words, this year the region is all set to witness 12% growth in IT spending as compared to world average of 3%. This is because the Middle East and Africa (MEA) region is geared up to kick off the trend as budding markets push the growth of global industry. This year, the Global IT spending is expected to reach $1.48 Trillion.

Due to continued heavy investments in highly advanced technology solutions by government and private institutions, the IT market is growing. Market players are ready with numerous expenditure plans.

For instance, Emirates Integrated Telecommunications Company (du) recently said that the Company was thinking to raise AED1 Billion ($273 Million) via a rights issue. This capital raised will sponsor an accelerated growth plan. The Company added that its plan is to utilize this capital to deliver on its promise to the customers by staying on to expand fixed and mobile infrastructure and to improve network capabilities.

In February 2010, Etisalat, the main competitor of du in the Emirates, said that it possesses cash reserves worth around AED10 Billion ($2.7 Billion). Its latest plan is to make use of this capital to foster its overseas expansion plans.

International players are already realizing the growth potential in budding markets such as Dubai. It is evident from their interest in the market and their confirmed participation to exhibit the advanced technology and innovation at 2010 Gitex Technology Week.

Industry experts consider Dubai as a hub for the entire MENA region and not just for the GCC. Moreover, not just Dubai, entire UAE is enjoying IT market growth. According to a market research report titled “Middle East ICT Market Analysis” by RNCOS, the Emirates’ IT market is anticipated to touch US$5 Billion by 2012.

According to a Research Analyst at RNCOS, “The MENA IT market shows a landscape of huge growth potential, which is experiencing a rise in planned IT spending stimulated by the domestic customers’ changing business attitudes. The growth in this market will also add to the growth of various other industries related to it, like software industry, personal computers and peripherals manufacturing and supply, etc.”

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