| United Arab Emirates Information Technology Report Q3 2009 UAE IT spending is projected to remain in positive growth territory, despite the current economic slowdown, reaching US$3.15bn in 2009. Government spending and investment will provide support, and there will be continued opportunities in sectors such as construction, banking and telecoms.
UAE economic growth is forecast to suffer a reverse in 2009 before picking up in 2010. There have been vendor reports of IT managers looking to cut costs, and projects being scaled back in key sectors for IT projects such as oil and gas, real estate and construction. A number of short-term factors give concern, including the impact of a falling population on consumer spending, as some expats return home.
Despite current economic uncertainty, some fundamental drivers, including local and federal government initiatives, and development of non-oil sectors such as real estate and tourism, should help to prevent market stagnation. The total size of the UAE’s IT market is expected by BMI to grow at a CAGR of 10% from around US$3.2bn in 2009 to approaching US$4.7bn in 2013.
United Arab Emirates Information Technology Report Q3 2009: http://www.companiesandmarkets.com/r.ashx?id=Y4HF47BL2154305
|
Posts
