ICT expenditure in Saudi to reach USD 90 million from 2010 to 2012
April 19, 2010
Saudi Arabia will account for up to 50 per cent of ICT investments in the GCC from 2010 to 2012, sustaining a healthy compound annual growth rate (CAGR) of around 8 per cent, according to the recently released “GCC ICT Infrastructure Report” from Kuwait Financial Centre (Markaz). Growing consumer adoption of new technologies and services such as broadband internet has helped fuel the increasing ICT spend in Saudi Arabia as an estimated USD 90 billion is expected to be allocated for various infrastructure projects in the telecom sector over the next three years.
GITEX KSA 2010, a premier business-to-business networking event and leading consumer ICT showcase, will gather renowned regional and global distributors, manufacturers and resellers to showcase a comprehensive range of the latest applications, systems and components, complementing the increasing ICT investment initiatives across the country. Scheduled for April 25 to 29 / Jumada al-Awwal 10 to 14 at the Riyadh International Exhibition Centre, GITEX KSA expects over 450 exhibitors from various countries and more than 100,000 local and foreign visitors, ranging from potential buyers, deal sealers, major business owners, IT professionals and governmental decision makers.
Mohammed Al Hussaini, De puty General Manager, Riyadh Exhibitions Company, organiser of the event, said: "Saudi Arabia maintains its reputation as the leading ICT market in the GCC region, which naturally creates a wealth of business opportunities for local, regional and international suppliers. In this regard, GITEX KSA 2010 has been restructured to cater to the evolving needs of niche markets and allow a wider range of industry segments to benefit from the latest technology solutions. Moreover, trade visitors will have an exclusive opportunity to discuss the latest ICT breakthroughs with renowned industry executives and explore exciting offers from leading suppliers."
The latest ICT spend growth forecast in Saudi Arabia represents a new upward trend after the country registered a 4 per cent CAGR in ICT expenditure in 2009. Broadband internet, including WiMAX and mobile high-speed packet access technologies, has provided a major boost in consumer technology adoption across the country as broadband registered members reached 1.985 million at the end of the first nine months of 2009, increasing by 49.2 per cent from the same period in 2008.
GITEX KSA 2010 will showcase a wide range of products and services that cater to the full spectrum of Saudi Arabia's diverse IT segments. The event will run concurrently with Saudi Communications 2010.
