Global IT shrugs off economic turbulence


Global IT shrugs off economic turbulence

Antony Savvas

Demand worldwide for IT is growing strongly in spite of economic turbulence.

According to data from market research institute EITO (the European Information Technology Observatory), the world IT market is expected to grow in 2008 by 5.2% to 963.5bn euros (£777bn).


"The weakening trend in the world economy has hardly affected turnover in the high-tech sector," said EITO chairman Bruno Lamborghini.

Fears that the international finance crisis and increasing raw materials prices could seriously hit IT investment have so far not been realised, said EITO.

For 2009, EITO is expecting growth in the global IT market of 5.6%. Worldwide turnover in computers, software and IT services could for the first time reach more than one trillion euros, it said.

IT spending rises despite downturn >>

IT spend slashed as economy slows >>

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