IT market escapes Tsunami's economic impact, says IDC

Last month's tsunami resulted in a catastrophic loss of life and property, but how will the economic fallout affect the IT market in the devastated region? IDC says that the impact will not be enough to derail momentum in the market in 2005.

Last month's tsunami resulted in a catastrophic loss of life and property, but how will the economic fallout affect the IT market in the devastated region? IDC says that the impact will not be enough to derail momentum in the market in 2005. "We will see a minimal short-term slowdown in IT spending in these countries, compensated for by a further acceleration in the near term (1824 months). The anticipated overhaul of the overall economic development strategy of these countries, with an emphasis on the nonmanufacturing sectors of the economy, will shape the IT spending profile of the region in the near term," saidAnna Toncheva, an economist in IDC's IT Markets and Strategies. IDC published a press release yesterday with additional good news for the PC market: "The Asia/Pacific PC market was not impacted by the devastating tsunami," the research firm said. However, the potential spread of disease remains a wild card in the outlook.

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