Singapore’s banking and securities industry will have the highest growth in IT spending among developed economies in Asia-Pacific in 2017. Indonesia will have the highest overall growth rate in the region. These are the predictions by Gartner, which said IT spending by banking and securities firms would reach $19.1 billion in 2017, an increase of 4.7% from 2016. This forecast is based on total enterprise IT spending. The research found that Singapore would have a growth rate of 6.6% in 2017, the highest of all the region’s mature markets including Australia, New Zealand, Singapore and South Korea. New Zealand came second at 6.5%. Within Asean, Singapore’s spending is the highest, totaling $1.4 billion in 2016. Earlier, IDC found that the Asean countries of Malaysia, Indonesia, Thailand, Singapore, the Philippines and Vietnam spent an average of $896 million in 2016.
