Dubai: Purchases of Information and Communications Technology (ICT) products and services in Europe, Middle East and Africa (EMEA) this year will touch $1.40 trillion and overtake the US' $1.06 trillion, according to a recent report by international research company Global Insight.
"As the economy in the US slows down, due in part to the weak dollar, businesses in the Middle East are experiencing five per cent growth, compared to four per cent in the US, with the Middle East and Asia-Pacific becoming the two fastest growing regions the world," the report said.
The report said total ICT spend in the Middle East this year is predicted to be $73.32 billion, rising to more than $95.06 billion in 2011.
Hub
With the Middle East well positioned as a hub of global technology, ICT companies are looking to capitalise on this market with increased investments.
Saudi Arabia is the biggest regional investor spending more than $20 billion per year in ICT investment.
ICT investment in UAE is expected to surge from $11.46 billion in 2008 to $14.85 billion in 2011 while Kuwait's investment is expected to be $5.83 billion in 2008 and $7.07 billion in 2011
John Coulston, head of marketing, Dell Middle East, said: "The regional market has never been stronger, and it is growing at a disproportionate rate to the established western market. That means that we not only have to be in a position to provide the right products, but we are also offering a lot of support to help these businesses grow."
"The Middle East is one of the fastest growing ICT regions in the world, combining strong business acumen and substantial experience in developing growth. This year's Gitex Technology Week will bring together the biggest local and international companies to build on the current boom in the Middle East ICT market," said Helal Saeed Al Merri, Director General of Dubai World Trade Centre, organiser of Gitex.
"As one of the largest enterprise vendors at Gitex, we will be demonstrating the strength of Dell's services capabilities, alongside new storage infrastructure solutions, and the latest virtualisation products," Coulston added.
At the heart of discussions at the event will be the slowing economies of developed nations, and the cooling of demand for ICT products in the traditionally strong heartlands of America and Europe.
