Singapore IT spending in 2004

Companies and individuals in Singapore will spend US$3.2 billion on computer hardware, software and services next year, up by a good 4.3% over 2003. Singapore will see US$486 million being spent on packaged software next year, up a robust 7% over 2003,' an IDC official told BizIT. That is noteworthy because packaged software sales will shrink 2.7% overall this year over 2002. Next year, Singaporeans will spend US$1.55 billion on buying new hardware, up 3.8% over 2003. Worldwide IT spending is set to grow 5% to US$916 billion, and spending on telecom services will go up 4% to US$1 trillion in 2004, says another IDC study.