First-ever Gitex Saudi Arabia closes with SR80 million deals
The debut of Gitex Saudi Arabia, organized by Riyadh Exhibitions Co. Ltd., and held at the Riyadh Exhibition Center April 21-25, 2002, attracted more than 100,000 visitors and resulted in more than 80 million Saudi riyals ($21.3 million) worth of transactions, according to a company press release.
Saudi markets represent roughly 40 percent of the total IT market in the Gulf region, according to Omar Bin Sulaiman, Dubai Internet City (DIC) Chief Executive Officer, with Internet applications, e-commerce, communications and mobile computing experiencing a 20 percent growth rate annually.
Recently Saudi Arabia witnessed a series of mergers, including a link-up among three Internet service providers AwalNet, Naseej and Al-Alamiah. The tie-up between the three companies is said to have resulted in a combined value of SR44 million and will enable the trio to conquer a growing percentage of the lucrative Saudi market.
According to the Professional Computer Association (PCA) of Lebanon, currently Lebanon's software industry is valued at $150 million, with its export market valued at $35 million to US, Europe and Gulf Cooperation Council (GCC) markets. The bulk of the exports are targeted at European markets while 30 percent is distributed within the GCC states. The Saudi Arabian market currently represents roughly 50 percent of the total Lebanese IT Gulf exports, and is valued at about $5.25 million.
More than 500 local, regional and international exhibitors specializing in Information Technology (IT) and communications participated in the inaugural event. The event staged a range of product launches, enabling visitors to see the newest developments in information and communication technology in a broad range of categories including the newest security solutions available to help control Internet viruses; new multimedia options, memory and sound cards, digital cameras and a variety of educational tools.
In April 1999, the Dubai World Trade Center (DWTC) implemented an expansion plan for Gitex Dubai, an IT exhibition held annually at the DWTC exhibition complex, with the launch of Gitex Cairo. This was the first in a series of moves to help broaden Gitex's presence in Middle East markets and was followed by the launch of Termium Gitex Beirut in September 2000. In 2002, the expansion moved beyond the Middle East boarder into South Asia with the launch of Gitex Hyderabad (India) in January 2002. In addition, to help strengthen its presence in the Middle East, Gitex Saudi Arabia debuted in Riyadh in April 2002. — (menareport.com)
© 2002 Mena Report (www.menareport.com)