IT Spending In Egypt Will Hit Us$ 2.1 Billion By 2014
IT spending in Egypt is set to reach US$ 2.1 billion by 2014, making it one of the fastest growing IT economies in the world.
The latest research from Business Monitor International for the first quarter of 2010 states that Egypt’s IT spending will grow from US$ 1.3 billion at a compound annual growth rate (CAGR) of 12 percent due to the economic recovery, higher incomes and new hardware and software upgrade cycles.
Egypt has one of the most established and developed IT infrastructures in the Middle East and North Africa and is a lucrative sector for international companies looking to expand their presence in the region.
Information Technology Industry Development Agency, (ITIDA) will lead the Egyptian participation at this year’s GITEX TECHNOLOGY WEEK, the region’s most influential and high-profile ICT event, as companies look to build on the strong relationships between Egypt and the world’s leading companies in the ICT field. The event takes place at the Dubai International Convention and Exhibition Centre (DICEC) from 17 – 21 October 2010.
Dubai World Trade Centre has a long standing relationship with ITIDA, as the official pavilion from Egypt with the support of the Egyptian government, to attract a high number of participants and trade visitors from Egypt, to reinforce the country’s position as one of the region’s fastest growing ICT markets.
“ITIDA plays a pivotal role in promoting the growth of Egypt’s ICT market and attracting more international companies to set up operations in our country,” said Dr. Hazem Y. Abdelazim, Chief Executive Officer for ITIDA. “GITEX TECHNOLOGY WEEK is the leading ICT exhibition in the region, and one of the best in the world. It is critically important that we work closely with the show organisers to bring the great news from Egyptian companies to the many thousands of international visitors.”
Celebrating its 30th anniversary this year, GITEX TECHNOLOGY WEEK will be one of the most significant events of the year in the industry and will help to provide Egyptian exhibitors a dedicated platform to highlight the latest technological advancements.
“Relations between Egypt and the UAE are stronger than ever with more than one billion U.S. dollars worth of trade exchanged each year. With continued growth expected in the Egyptian IT sector in the coming four years GITEX TECHNOLOGY WEEK is going to provide the ideal platform for companies hoping to capitalise on this impressive growth,” said Helal Saeed Almarri, CEO, Dubai World Trade Centre, organiser of GITEX TECHNOLOGY WEEK.
“We look forward to a strong Egyptian presence at GITEX TECHNOLOGY WEEK to celebrate our 30th anniversary show.”
Egyptian companies will be participating in every sector within GITEX TECHNOLOGY WEEK with key suppliers and market innovators bringing new technological developments to the global ICT community.
GITEX TECHNOLOGY WEEK has an established reputation for delivering outstanding return on investment for companies, both looking to market their new products to the Middle East and North Africa, whilst also generating new business for companies within the GCC.
More than 3,500 companies will again participate in the landmark event, with more than 133,000 ICT professionals visiting the exhibition from 134 countries during the five days.
GITEX TECHNOLOGY WEEK is presented in four key disciplines: GITEX Business Solutions, GULFCOMMS, Consumer Electronics and the GITEX Global Conferences, including the GITEX Telecoms Executive Summit and the GITEX Cloud Confex.
Another new area which will prove extremely popular at this year’s event is GITEX Mobile Apps World. With a combination of device manufacturers, operating software (O.S.) platforms, apps stores and developers, as well as interactive features, this sector will be the place to learn, download and interact with the Middle East’s premier and only Mobile Apps platform.
GITEX TECHNOLOGY WEEK runs from 17 - 21 October 2010, at Dubai International Convention and Exhibition Centre, UAE.