According to the Gartner 2008 CIO Agenda study, the average worldwide IT budget increase after weighting is expected to go up 3.3 percent, a slight increase from 2007's 3 percent. IT spending will rise 3.3 percent in the U.S., 3 percent in Europe and 4.5 percent in the Asia/Pacific region. The survey was conducted by Gartner Executive Programs, a membership organization for CIOs. The study included 1,500 CIOs in 33 countries and 23 industries.
Spending is rising even though 68 percent expressed concern about a recession in 2008. In part, that's because "businesses are expecting IT to have more visibility and impact than in the past," says Mark McDonald, group vice president and head of research for Gartner Executive Programs: "The other part is inflation and legitimate operating costs will require more investment than last year."
Despite the bad news from Wall Street, CIOs' are focusing on customers and generating new business.
Source: CIO Insight, http://www.cioinsight.com