UAE IT market worth $3.15bn

04 August 2009

According to a Business Monitor's report, UAE IT spending is projected to remain in positive growth territory, despite the current economic slowdown, reaching $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, the report has said. The report has also said that a number of short-term factors give concern, including the impact of a falling population on consumer spending, but 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 Compound Annual Growth Rate (CAGR) of 10% from around $3.2bn in 2009 to approaching $4.7bn in 2013, the report has said.

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