EU brings growth to Slovakia

Morris, Pete
July 2004
IT Training;Jul/Aug2004, p14
Trade Publication
The Slovak Republic, Czechoslovakia like the other nine European Union accession countries, is preparing to reap the benefits membership brings, and the country's IT sector is likely to be one of the first beneficiaries. The IT markets in Central and Eastern Europe are booming, with growth of more than eight per cent per year, nearly five per cent higher than in Western Europe. The key driver for that boost is the large number of major IT projects being undertaken to update computer systems, for example in the area of tax and customs, fueled by a flood of EU loans and grants. Although an annual growth rate of eight per cent plus sounds impressive, the IT industry in Slovakia is starting from a low base, and needs to grow quickly just to keep up. According to the World Economic Forum's Net-worked Readiness survey for 2003, the Slovak Republic ranked 40th in the world for IT infrastructure. But analysts claim that Slovakia may actually benefit from its lack of legacy networks and IT investment, allowing it to move directly to a broadband infrastructure, leapfrogging many Western economies in the process.


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