Companies around the globe are continuing to invest heavily in information technology, driving industry growth levels to greater heights. According to the European Information Observatory (EIO), during the past year the US IT market, the largest in the world, grew 11.7%, while in the UK, the second biggest market, growth reached 9.4%, overtaking the depressed Japanese market where growth is currently only 8.9%. According to an EIO survey, Americans spend, as a percentage of gross domestic product (GDP), 3.5% on information technology more than any other geographic region. In comparison UK IT spend is around 2.5% of GDP, greater than the average of both Western Europe which stands at 2.0% and Japan which spends 2.4% of its GDP on IT.
