Despite COVID-19, enterprises in Hong Kong set to increase ICT budget on digital transformation, says GlobalData

Despite the negative impact of COVID-19, most of the enterprises in Hong Kong are expected to increase their share of ICT spending on digital transformation in 2020, according to the latest ICT decision makers’ survey* by GlobalData, a leading data and analytics company.

GlobalData’s ‘Hong Kong Enterprise ICT Investment Trends 2020’ reveals that the enterprises covered in the survey* plan to spend an average 39.3% of their ICT budget on digital transformation initiatives in 2020 amidst the COVID-19 crisis. This is about 7.7 percentage points more than the percentage of ICT budget that the enterprises surveyed had spent on digital transformation in 2019.

Nidhi Gupta, Technology Analyst at GlobalData, says: “Hong Kong has been fairly successful in handling the pandemic until now, enabling most of the businesses in the country to resume activities. As their operations get back on track, majority of them are expected to accelerate their digital transformation efforts and incorporate new digital solutions into their work processes to make themselves more resilient against such disruptions in future.

“Automation, blockchain and artificial intelligence (AI) capabilities are high on priority list for enterprises in Hong Kong in their digital transformation efforts. This is also put to perspective by GlobalData’s survey findings, which indicate that the largest percentage of enterprise ICT budget for digital transformation in 2020 would be spent on these areas.”

*GlobalData’s ICT decision makers survey in Hong Kong covered the views of 104 enterprises

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