Local IT segment to grow 6% in 2012, says IBM

Friday, November 25, 2011

Brazil's IT segment will expand 6% in 2012, double the the country's forecasted GDP growth for the year, news source TI Inside quoted IBM Brazil president Ricardo Pelegrini as saying.

Pelegrini estimates that the segment as a whole will benefit if the current trend of a strengthening dollar persists in the upcoming year. According to the executive, a weak dollar/strong real scenario has been harming software exports and making Brazilian industry less attractive than that of India, for instance.

The IBM Brazil president also praised the recent approval by Brazil's senate of a law granting tax breaks for IT companies, and he highlighted the opening of 20 new IBM offices this year throughout the country, bringing the total to 36.

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IBM Brazil's exports hit US$600mn in 2010. Pelegrini predicted similar levels for this year and in 2012.