Erste Group: IT market in Romania to see 12.7% growth in 2012

Romania’s IT market is to post 11.3 percent growth in 2011, while in 2012 the IT sector is expected to expand by 12.7 percent, according to Erste’s ‘IT industry growth to propel 2012 economic development in Central and Eastern Europe’ report. The highest increase in the IT market in 2011 will be recorded in Latvia, with 12.6 percent, while in 2012 Bulgaria is expected to post the highest growth with 15 percent. Romania has been provided with EU funding of EUR 252 million for IT&C projects in 2011, while Croatia got access to EUR 750 million for the years 2007-2011. Other SEE countries also receive EU funding as pre-accession assistance. IT spending growth forecast for 2012, with countries like Poland (+7.8 percent), Romania (+12.7 percent), Bulgaria (+15 percent) and Croatia (+10 percent) are to lift overall growth rates, shows the report. ‘’In general, CEE countries are expected to show IT growth of roughly double their GDP growth in future years, thereby at least narrowing the gap with their Western peers,” says Daniel Lion, CEE Technology analyst with Erste Group Research and author of the report. The key IT growth drivers are the lower costs and higher efficiency, and the increased mobility and flexibility - cloud computing, smart phone and tablets and the mobile network expansion. Irina Popescu, irina.popescu@romania-insider.com (photo source: Sxc.hu)