Spurred by government expenditure, sustained adoption of technology-based services the IT spending in Saudi Arabia is expected to grow by 17 percent by the end of this year and reach SR37 billion by 2013, said a high-ranking official of Riyadh Exhibition Company (REC). Quoting Communication and Information Technology Commission (CITC) report Shahid Bhatti, Project Manager, GITEX KSA at Riyadh Exhibitions Company, told Saudi Gazette that sustained government expenditure, the growing number of mega-infrastructure development projects, enhanced business landscape, and continued adoption of technology-based services such as IT outsourcing will serve as catalysts for increased demand for various IT products and services in the Kingdom. “The next few years will be crucial as the Saudi market ushers in a period of sustained growth and strong demand for IT products and services,” Bhatti said adding, “Local and international industry players are now trying to take advantage of every opportunity to strengthen their marketing initiatives and grab a significant share of the IT market.” He said leading industry players in IT sector have shown high level of confidence which will further enhance the business landscape and generate more growth opportunities in the Kingdom's IT industry, he said. According to CITC's annual report the growth of 17 percent in IT spending this year will reach nearly SR37 billion by 2013. Saudi IT market is expected to achieve 13.4 percent Compound Annual Growth Rate (CAGR) over the next three years. Bhatti said GITEX KSA will provide the most comprehensive marketing platform for IT companies and service providers to gain invaluable exposure in key segments and high-growth niche markets. The robust growth forecast provides an excellent backdrop to the upcoming GITEX KSA 2011 that will be at the Riyadh International Convention and Exhibition Center from April 10 to 13. GITEX KSA, premier business-to-business networking event and leading consumer ICT showcase will run concurrently with Saudi Communications 2011. The event has been expanded for trade exhibitors to strengthen their foothold in the Saudi market and benefit from the country's solid growth prospects. GITEX KSA/Saudi Communications 2011 will cover a wide selection of applications, systems and IT components targeting a full range of market segments. The exhibition will feature ICT products and services, telecommunications equipment, systems, networking, IT solutions, software/programs, office automation, the latest PCs and laptops, mobile phones, multimedia devices and several other digital products.
