The Communications and Information Technology Commission said spending on communications and information technology by individuals, companies and the public sector institutions will be around $4.85 billion in Kuwait during 2021.
The Al-Anba daily indicated that spending on communications and information technology in the country has seen a steady growth, from $4.6 billion in 2016 to $5.2 billion in 2019, with a compound annual growth rate of 4.1%.
The report, which is based on the International Data Corporation, added that the Corona virus pandemic had a significant impact, which led to a decrease in spending on communications and information technology by 9% in 2020, noting that the market is on the path to recovery, as it is expected to grow at a compound annual growth rate of 1.8% over the next four years to reach the pre-corona virus spending levels in 2025.
The report pointed out that spending will increase by 1.9% to reach $4.95 billion in 2022 and by 2% in 2023 to reach $5.05 billion, and will continue to rise in 2024 to reach $5.15 billion.