In today’s world, the information communication and technology (ICT) sector is a driving force of change. ICT has a profound an impact on economic growth and social networking in the 21st century knowledge economy, much like the development of machine tools had on the industrial revolution in the mid-19th century.
The Middle East and North Africa is among the most powerful market movers outside of China and India with growth rates well over the worldwide average and drawing greater international interest and investment totaling over $40 billion.
Fortifying networks
Stronger networks are allowing business to take place virtually anywhere at anytime through mobile connectivity. As the emphasis on mobility continues, convergence of technology and the blending of industries will continue to take place. Digital devices — phone, camera, agenda— are merging into smart phones, whose rate of adoption has significantly increased.
Technology is not just aimed at the upper income bracket but is also changing the lives of those with low income and the poor. For migrant workers, mobile phones are presenting themselves as new venues to transfer money to their families back home.
This is proving to be an exciting time in the region as the public and private sectors work together to bring greater connectivity and technology. Wireless and upgraded mobile telecommunication networks are in high demand and growth driven. With high oil prices and growth in other sectors fueling ICT, closing the technology gap with the developed world can be achieved.
However, for ICT to going forward, greater liberalization is required and a number obstacles need to be removed. With mobile penetration over 100% in the GCC, regulatory bodies are facilitating more competitive and transparent market environments for operators to determine their own entry into the market. Technology-neutral licenses are allowing supply and demand to determine what the best technology means. With better connectivity, prices will decrease.
Distribution of IT Spending in 2006
