The international technology industry remains upbeat despite the recent credit squeeze worldwide, according to the Annual IT Confidence Survey.

More than 53 per cent of the 350 senior executives surveyed in technology firms across global markets are more confident about prospects in the IT sector in 2008 compared to 12 months ago.

The survey also reveals that 68 per cent expect to increase jobs in their company over the next 12 months, up from 63 per cent last year, with only 6 per cent predicting a decline in employment in their firm. Just over a quarter said job levels would remain the same; 88 per cent expect revenues to increase, which is a little change from last year at 91per cent.

Eurocom Worldwide, the global PR network, conducted the survey in association with Orient Planet PR & Marketing Communications, who is a member of Eurocom Worldwide in the Middle East.

“Our survey shows that across the technology industry confidence remains solid, in spite of the global credit crisis,” said managing director, Orient Planet, Nidal Abou Zaki.

“We asked about the upheaval in global financial markets caused by the subprime credit squeeze and just over a quarter (26.5%) said that it influenced their outlook for the year. Around 54.5 per cent said that the crisis did not impact on their outlook.”

The Eurocom Worldwide report is positive about continuing demand in the IT jobs market, as 48 per cent of respondents said that it is more difficult to recruit IT staff now than 12 months ago. This is up from 38 per cent last year. Only 4 per cent said it is easier to recruit.

Jobs most in demand remain software engineers, which 54 per cent find hard to recruit, followed by international sales personnel at 38 per cent and domestic sales people at 34 per cent.

However, the survey confirms the continuing flow of tech manufacturing as well as services jobs to lower cost centres; 65.5 per cent say that their country is losing IT manufacturing jobs to centres such as China, India and Central & Eastern Europe (CEER), while 50 per cent say that IT services jobs are also being exported to lower cost centres.

“Eurocom Worldwide’s IT Confidence Survey has been carried out for seven consecutive years now. Over time, the results show that the IT sector is successful at adjusting to global financial realities. Challenges such as credit fall-outs and global employment transfer may be real, yet technology companies continue to show business growth and jobs creation,” said network director, Eurocom Worldwide, Mads Christensen.

As last year, respondents to the Eurocom Worldwide IT Confidence Survey remain skeptical on the US economy. Almost 50 per cent are less confident about prospects for the US economy than they were a year ago (against 33 per cent last year). Around 38 per cent expect the tech heavy NASDAQ to mark time and show no growth with 24 per cent predicting a fall.

The biggest threats to growth in the IT sector are seen as being broadly divided between the slowdown in the US economy cited by 48 per cent, followed by a skills shortage (42 per cent), oil price rises (37 per cent) and poor health of the financial services sector as a result of the subprime crisis (34 per cent). – TradeArabia News Service