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Bahrain's IT market is expected to hit $400 million (BD151 million) by 2012, according to a new report, as the kingdom continues to diversify its economy.
Research conducted by Business Monitor International, a specialist on global emerging markets, shows that Bahrain is set to increase IT spending from $27 million in 2005 to $400 million in 2012 - a massive 1381 per cent increase.
More than 20 companies from Bahrain will participate at Gitex Technology Week, from October 19 to 23, 2008 at Dubai International Convention and Exhibition Centre, looking to build on strong relationships between Bahrain and the UAE technology industries.
Participating in the Bahrain pavilion are Al Nadeem Information Technology, BITS Information Technology, Gulf Future Business, Hi-Tech, Mazin Computer Centre and Microcenter, in addition to the e-Government Agency and other ministries. Green Packet Networks, which launched in Bahrain in 2007, will also have its own stand.
"Bahrain's IT sector is set to dramatically expand over the next five years. Bahrain is one of the region's more advanced markets and is an e-government leader. The event will bring together some of the best companies from Bahrain to build stronger relationships with a global audience," said Helal Saeed Almarri, director general, Dubai World Trade Centre, organiser of Gitex Technology Week.
Bahrain is a regional financial centre with a robust and developing capital market and its e-government programmes are considered the best in the Middle East.
Gitex Technology Week executives are expecting thousands of visitors from Bahrain at this year's event - the highest-ever figure in the exhibition's 28 year history - as companies look to establish relationships with leading ICT businesses.
Dr Ali Al Mashat, chairman of Green Packet Networks said: "Bahrain has great potential to position itself as a leader in the global ICT market. At Gitex Technology Week we will be introducing the benefits of leading-edge GPN solutions and talking with international partners about developing the most advanced solutions for our market."
According to internetworldstats.com, 35 per cent of Bahrain now has access to the internet, making it one of the highest users in the Middle East.
