'IT budgets continue to increase'
07/04/2008 10:16:55
Despite economic uncertainty following the credit crunch, IT budgets for European firms are continuing to grow, a sector consultancy firm has found.
A survey of more than 1,000 chief information officers (CIOs) by Gartner, found that global IT budget growth remains unchanged at 3.3 per cent with European IT budgets set to increase by 3.86 per cent.
"Overall, the majority of CIOs reported no change in their 2008 committed budgets. This indicates that IT budgets are not the target rich environment for cost cutting they have been in the past," said Mark McDonald, head of research for Gartner Executive Programs.
However, IT spending rates in the US have slowed with the overall growth rate falling from 3.1 per cent to 2.3 per cent.
One in four American CIOs indicated that their budgets were reduced in the first quarter of this year.
The Asia-Pacific region is set to see the biggest IT spending increase with budgets growing by 5.98 per cent.
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