Technology Sector Confident on Jobs and Revenues but overall Confidence Falls

- 60% of senior executives expect to increase technology jobs

- 71% forecast revenue growth over next 12 months

- But confidence in outlook for tech sector overall is down

Despite uncertainty over world economic growth and the Eurodebt crisis, senior executives in the global technology industry are optimistic about growth in their own company’s jobs and revenues over the next 12 months, according to the annual technology sector confidence survey conducted by Eurocom Worldwide, the Global PR Network. However, confidence in the outlook for the technology sector overall is down on this time last year.

60% of respondents expect the business they work for to increase jobs and 71% forecast an increase in revenues. In contrast, less than half of respondents (46%) are more confident about the outlook for the technology sector over the next 12 months, down from 61% last year. The study of over 300 executives was conducted in January and February 2012.

Commenting on the overall upbeat results of the survey against a backdrop of economic uncertainty, Mads Christensen, Network Director of Eurocom Worldwide said, “Despite confidence in prospects for the technology sector in general falling from last year senior executives remain upbeat about the outlook for their own businesses. This is remarkable since our survey was conducted in January and February against the backdrop of continuing concern about the Euro debt crisis and amid slowing GDP growth across many economies.”

The survey is positive on the outlook for tech jobs. 60% expect to increase employment, similar to last year (57%). Just 5% expect to decrease headcount (9% in 2011). Almost a third of respondents refer to a skills shortage with 30% saying it is more difficult than last year to hire individuals with the right technology skills.

The Eurocom Worldwide technology confidence survey was conducted online by member agencies of Eurocom Worldwide during January and February 2012. A total of 318 responses were received with approximately 80% from European countries and 11% from the Americas.