Asia-Pacific It Firms' Spending To Hit US$367 Bil Next Year

KUALA LUMPUR, Nov 17 (Bernama) -- Spending on information technology products and services by enterprises in Asia-Pacific is expected to grow eight per cent to US$367 billion next year, according to Gartner Inc. The information technology research and advisory firm said Malaysian IT companies' spending has been forecasted to touch RM31.5 billion next year, up 6.1 per cent from this year. Singapore, South Korea and Hong Kong are forecasted to each reach S$18.3 billion next year, up 4.1 per cent over, South Korean Won 49.7 trillion in 2012, up 3.1 per cent over 2011 and HK$90 billion in 2012, up 5.5 per cent over 2011, it said in a statement. The bulk of this growth comes from developing markets like China and India as businesses in mature markets are increasingly cautious, the company said. "Our outlook is made with the assumption of continued global economic uncertainties, and at best, sluggish growth, especially in the United States, Japan and Western Europe," its senior vice-president and global head of research, Peter Sondergaard, said. "The European financial crisis is extremely serious. Some well-respected economists now predict a shrinking Eurozone economy next year," he said. He said worldwide IT enterprises' spending has been projected to total US$2.7 trillion next year, up 3.9 per cent from US$2.6 trillion spent this year. "The days when IT was the world's passive observer are over. Global politics and the global economy are being shaped by IT," he added. -- BERNAMA