KSA spent SR112bn on telecom, IT in 2014
The Kingdom of Saudi Arabia leads the GCC countries in terms of spending on telecom and IT services in 2014, with a total expenditure of SR112 billion, says a report released by the Communications and Information Technology Commission (CITC).
The clients of IT and telecom services included both government and private sector companies, and covered telecom and IT hardware and packages of software, it said.
The report revealed that the volume of spending on telecom services stood at 65 percent of the total spending, hardware accounted for 23 percent, while IT and software services captured the remaining 8 percent and 4 percent, respectively.
Citing data released by the Organization for Economic Co-operation and Development (OECD), the CITC said the total volume of investments in telecom and IT services in the Kingdom last year reached SR17.83bn. Ready-made and advanced software captured the biggest proportion of this investments with 47 percent (SR8.39bn), followed by telecom devices and IT hardware at 27 percent (SR4.86bn) and 26 percent (SR4.58bn), respectively.
The telecom sector was the largest recipient of IT-related investments in 2014, with 25 percent, followed by the government sector (education and health sectors) at 20 percent, oil and gas sector (12 percent) and the financial sector (11 percent), the report said.