Booming IT Spending in Middle East & Africa

Impressive stuff on IT growth in the Middle East & North Africa, all contained in a new IDC report:

A report issued by research and consultancy firm IDC showed that the total spending on information technology (IT) in the Middle East and North Africa (MENA) region is expected to rise 50 percent to $45 billion by 2010, up from $30 billion in 2006, Gulf News reported.

The IDC report also showed that the total value of IT security spending for the region is estimated to touch $9.3 billion by 2009, with the UAE, Saudi Arabia, Kuwait, Qatar and Bahrain the top five investors.

The Middle East is one of the fastest growing consumer electronics markets in the world, estimated at $7 billion. Research indicates that it will experience double-digit growth in the years to come, a huge opportunity for major players.