IT will power economic recovery in Asia, new study shows

A study from Global Information Technology (IT) research firm, IDC, and Microsoft shows that the IT industry will be a major catalyst for the economic recovery, especially in Asia. The study measures the contribution IT makes to gross domestic product (GDP), job creation in the IT industry and the software sector, formation of new companies, local IT spending and tax revenues from IT in 52 countries, including 14 in the Asia-Pacific region. Specifically for the Asia-Pacific area, the study found that IT spending in 2009 will be US$300 billion (or about 21% of the global spend on IT), and will grow at 4.8% per annum, against GDP growth of 3.4%; IT as a contributor to GDP in the region will rise from the current level of 2.1% to 2.3% by 2013; IT-related activities will generate US$185 billion in taxes in 2009, and over the next four years, will generate US$74 billion in new tax revenue for Governments

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