European IT Budgets show resilience despite gloom

A report from Research Analyst Gartner underpins the belief that European IT Budgets will not be affected by the current economic downturn that is spreading across the worlds.

A survey of 1000 CIOs (Chief Information Officers) found out that less than one out of four companies will cut their IT budgets by an average of 10 percent.

In what seems to be a good omen for the rest of the industry, more than 6 out of ten companies have signified their intention to stick to their initial IT budget with up to 15 percent actually increasing their IT monies.

Mark McDonald, group vice president and head of research at Gartner Executive Programs said that "This indicates that IT budgets are not the 'target rich' environment for cost cutting they have been in the past"

IT budgets have been increasing worldwide although some areas have been more active than others.

Unsurprisingly Asia's thrusting ahead with nearly 6 percent growth thanks to India and China powerhouses while Europe and the US IT budgets registered aggregated IT budget growths of only 3.86 percent and 2.3 percent respectively.