| 19 Aug 2008 |
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Telecommunications and Broadband Internet may grow to $70b by 2015
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DUBAI -- The current revenue for the telecommunications and broadband Internet sectors in the MENA region is set to exceed $50 billion, and is set to grow to $70 billion by the year 2015, according to research and consulting firm, Booz Allen Hamilton.
Dubai World Trade CentreDubai World Trade Centre
, organiser of the largest international telecommunications trade event for mobile, fixed, IP and satellite GULFCOMMS, says that the Middle East, Africa and South Asia markets are set to drive the industry over the next decade due to massive recent growth of opportunity in the region, said a Press release issued on Monday.
Helal Saeed Almarri, Director General, Dubai World Trade CentreDubai World Trade Centre, organiser of Gulfcomms said: "Gulfcomms always proves a very popular segment of Gitex Technology Week, by providing a focused platform for the communication market across the Middle East, Africa and South Asia. Population growth and deregulation will see the Mena region take over from America and Europe in the next five years, and much of the new business will be generated during Gitex technology week."
With the Middle East telecoms market fast becoming the focal point for international and regional suppliers, Gulfcomms, at Gitex Technology Week (19-23 October 2008) is now sold out as companies seek to use the event as a platform to exploit the growing opportunities within the region.
More than 80 countries and nearly 3,500 companies will take part in Gitex technology week, the region's leading technology event, including Alcatel, Avaya, BlackBerry, dudu, Ericsson, EtisalatEtisalat, NEC Philips, Orange Business Services and RIM.
Extending its key support is Telecommunications Regulatory Authority (TRA)Telecommunications Regulatory Authority (TRA)
. Mohamed N. Al Ghanim, TRATRA Board Member & Director-General, said: "The Telecoms industry is a booming market right now, with many global companies signing deals to expand into the Middle East and North Africa region. Gitex technology week is a dynamic event and fits with our goal to further develop the sector, enhance building bridges of cooperation and encourage the worlds most advanced technologies to the UAE." A strong presence at Gitex technology week has given major companies in the UAE the platform to expand into other developing markets. EtisalatEtisalat has recently extended its services into Egypt, India and West Africa, due to the growth in the developing markets.
The UAE's telecommunications market is a duopoly, with EtisalatEtisalat and dudu in the market, while Saudi Arabia sold its third mobile phone license last year for $6.1 billion, followed by Kuwait, which offered a stake in a third mobile phone firm for $907 million in November. Qatar also ended a telecom monopoly last year, while Vodafone Group PLC, the world's leading mobile telecommunications company, announced last month that it would take a 70 per cent stake in Ghana Telecoms for $900 million.
By a staff reporter
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