Asian companies are willing to spend more on information technology this year despite economic challenges, global political risks and reduced confidence in the industry, according to a research firm.
International Data Corp (IDC) cited results of a recent survey showing that 50 percent of the firms polled said they intend to increase their IT budgets last year.
Fifteen percent said they planned to spend less and 35 percent said expenditures will be on the same level as last year, IDC said in a statement received here Sunday.
Higher expenditures are expected "in spite of formidable economic challenges, looming geopolitical risks and reduced confidence in the information technology industry." Companies in China and India are the mostly likely to raise spending. More than 67 percent of respondents in India and 55 percent in China intend to increase their IT budgets. Companies said 70 percent of spending will be on infrastructure.
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