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Brexit slows down IT spending in EMEA

November 12, 2018 8:16 am by: Category: Africa & World, Broadband, BUSINESS, cloud, Featured, Investing, IT Security, Mobile & Telecom, Mobile and Telecoms, NEWS, Software, Technology Leave a comment A+ / A-
Global Information Technology (IT) spending

Global Information Technology (IT) spending

by AKANI CHAUKE
JOHANNESBURG – SPENDING on information technology (IT) in the Europe, Middle East and Africa (EMEA) regions is projected to total $973 billion in 2019.

This represents an increase of 2 percent from the estimated spending of $954 billion (R13.68 trillion) in 2018.

This is according to projections by Gartner, the global research and advisory firm.

“2018 is not a good year for IT spending in EMEA,” said John Lovelock, research vice president at Gartner.

He said the 5,8 percent growth witnessed in 2018 included a 4 percent currency tailwind driven by the Euro’s increase in value against the United States Dollar.

Lovelock said IT spending in EMEA had been stuck and would remain thus until the unknowns surrounding Brexit were resolved.

Brexit is a short portmanteau of British exit from the European Union.

“Until then, the slow growth of the overall EMEA market is masking the divergent growth rates across the segments in the region,” Lovelock said.

Brexit is seen slowing down IT spending growth in EMEA.

Lovelock said the United Kingdom was not expected to exhibit growth above 2 percent until 2020, which is having a downward effect on the EMEA IT spending average throughout the forecast period.

– CAJ News

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