Boston, MA -- (ReleaseWire) -- 09/18/2012 -- BMI View: Hong Kong IT spending is expected to reach US$5.6bn in 2012, up 5%, with BMI's forecast upwardly revised although a potential cooling of the mainland Chinese economy as a result of monetary tightening would quickly spread to Hong Kong. Growth areas in 2012 will include tablets such as the new iPad, and the trend to mobility will fuel demand to utilise new technologies such as virtualisation and cloud computing. Key sectors of the economy, including financial services, are also still investing in modernisation as Hong Kong strives to maintain its regional hub status and meet competition from regional rivals such as Shanghai. The IT market will also be sustained by initiatives encouraging the integration of Hong Kong's economy with its larger neighbour and the abolition of taxes on cross-border trade.
Headline Expenditure Projections
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- Computer hardware sales: US$2.3bn in 2011 to US$2.4bn in 2012, +5% in US dollar terms. Forecast in US dollar terms downwardly revised due to analyst modification, but growth areas will include demand for tablets and ultrabooks.
- Software sales: US$1.3bn in 2011 to US$1.4bn in 2012, +8% in US dollar terms. Forecast in US dollar terms unchanged as the software-as-a-service (SaaS) model enjoys increasing popularity in Hong Kong
- IT Services sales: US$1.6bn in 2011 to US$1.7bn in 2012, +8% in US dollar terms. Forecast in US dollar terms unchanged with strong sectors including financial services, government, telecoms, tourism and retail.
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