Saudi IT market to touch USD 5 billion by 2015

The Kingdom of Saudi Arabia’s lucrative IT sector – currently the biggest in the Gulf region – is expected to grow into a USD 4.9 billion market by 2015. It currently represents almost 70 per cent of the Gulf’s total IT business and has received investments in excess of USD 35 billion over the last 10 years.

The Kingdom’s governing Shura Council has already set a strategic objective to raise the IT industry’s GDP contribution to 20 per cent by 2020, reflecting the government’s treatment of the development of information and communications technologies (ICT) as a national priority. Other growth factors include a predominantly youthful demographic and a growing population which are expected to drive per capita spending to USD 186 in the next three years. More than USD 4 billion in local projects could be spent over the next few years into IT segments such as data centers, video gaming, hardware and semiconductors manufacturing and ICT services.  

The upcoming GITEX Saudi Arabia 2012, 11^th International Information and Communications Technology Exhibition for Saudi Arabia, will introduce local, regional and international investors and businesses to the vast potential of the booming Saudi IT sector. The latest edition of the Kingdom’s leading ICT trade fair will take place from May 21 to 24 at the Riyadh International Convention and Exhibition Center under the auspices of the KSA’s Ministry of Communications and Information Technology.

 “Saudi Arabia has been very receptive to the idea of technology-enabled growth, which is why it now occupies a leading position in the regional economy. Its IT market has a lot to offer to Arab and international businesses especially as government is prioritizing the accelerated growth of local ICT capabilities. The government’s current 5-year development plan includes a lot of IT-reliant infrastructure projects that IT players from around the world can look into during GITEX. Consumers will find the exhibition’s host of advanced gadgetry and technologies highly interesting as well. This year’s program caters to the full spectrum of IT enthusiasts, industry players, decision makers and investors,” said a spokesperson from Riyadh Exhibitions Company.