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The latest Annual IT Confidence survey conducted by Eurocom Worldwide, the global public relations network, showed that 46 per cent or almost half of senior executives in international technology companies expect to increase revenues in 2009 despite the global downturn.
Conducted in association with its regional partner Orient Planet PR and Marketing Communications, the survey also revealed, however, that the number forecasting increased revenues has fallen from 88 per cent last year. Of the 335 global technology senior executives surveyed, 31 per cent expect revenues to be about the same, while 22 per cent predict a decline in sales in 2009. The study, which included the UAE, was carried out in January and February of this year.
One in four or 25 per cent of senior technology executives expect to reduce headcount compared to just 6 per cent last year. However, 28 per cent are looking to increase jobs, down from 68 per cent last year. Almost half, or 46 per cent, expect no change in headcount.
“The findings suggest that despite the sharp drop in confidence the tech sector has so far not suffered as badly as others. An interesting finding is that 30 per cent, or almost a third of those surveyed, feel that the current recession will have less impact on their company
than the downturn following the collapse of the dotcom bubble in 2000-2001,” said Nidal Abou Zaki, Managing Director, Orient Planet PR and Marketing Communications.
Nevertheless, 34 per cent of senior executives see the current international recession as more serious while 13 per cent see it as having about the same impact as the dotcom collapse. Almost half, or 48 per cent, of respondents are less confident about prospects for the technology sector in general in 2009. This suggests a significant decline in confidence from last year when just 4 per cent were less confident. However, 13 per cent are more optimistic about the next 12 months, compared to 53 per cent last year. 39 per cent have the same level of confidence.
“Clearly technology is not immune to what is happening in the global economy but IT has an important function to play in helping companies cut costs and boost productivity. Tech companies are working to communicate this message about their products and services,” added Mads Christensen, Network Director, Eurocom Worldwide.
Technology companies are responding to the slowing global economy by developing or diversifying into new products or services, which is cited by 68 per cent of respondents. Just over half, or 51 per cent, are reviewing or developing new messages about products or services. Almost a third or 32 per cent are targeting new geographic markets.
Around 45 per cent of those surveyed say that it is easier to recruit IT people now compared to 12 months ago. However, 44 per cent say it is about the same and 11 per cent said it is more difficult to hire IT people. The hardest personnel to recruit are good software engineers cited by 57 per cent of respondents followed by international sales executives at 39.5 per cent and good domestic sales people at 33 per cent.
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