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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.

Désiré has been musing and writing about technology during a career spanning four decades. He dabbled in website building and web hosting when DHTML and frames were en vogue and started writing about the impact of technology on society just before the start of the Y2K hysteria at the turn of the last millennium. Following an eight-year stint at where he discovered the joys of global tech-fests, Désiré now heads up TechRadar Pro. Previously he was a freelance technology journalist at Incisive Media, Breakthrough Publishing and Vnunet, and Business Magazine. He also launched and hosted the first Tech Radio Show on Radio Plus.