Market Overview Qatar’s IT market appears better placed than some others in the region to withstand current global economic headwinds. Despite the economic slowdown, IT spending growth in 2009 is forecast at around 6%, with opportunities in a number of sectors. Government spending, investment and private consumption growth are all projected to remain in positive territory.
Qatar cannot expect to be immune to the troubles of the global economy however, and lower oil prices and tighter credit conditions will contribute to a slowdown in spending growth in 2009. IT managers are looking to cut costs, and some projects have been scaled back in key sectors for IT projects, such as oil and gas.
However, the Qatari IT market has a number of positive factors which should help it going forward. The government remains keen to promote economic diversification, and IT spending in core verticals such as telecoms and banking should be relatively immune to the slowdown. BMI’s core scenario is for Qatar’s total IT market to reach US$402mn in 2009 and US$593mn by 2013.