Promising opportunities in the Technology, Media & Telecommunications sectors in Kuwait

15 May, 2014 – Within its regional roadshow to the promising Middle Eastern countries in terms of growth and development in the Technology, Media & Telecommunications – TMT sectors, Deloitte held in collaboration with Noor Telecommunications Company K.S.C.C. (NOORTEL), the first-of-its kind TMT event to launch the 2^nd Middle East TMT predictions report with emphasis on predictions specific to Kuwait.

The event, which was held in Salmiyeh city, in Kuwait, was attended by the country’s TMT leaders and decision makers, Santino Saguto, Partner and TMT industry leader at Deloitte Middle East commented:   “We are now seeing increasing TMT activity in Kuwait, a positive sign of the growing awareness and recognition of the opportunities at hand in the country.” He elaborated: “Kuwait is one of the region’s emerging and largely untapped technology, media and telecommunications markets today and it has a promising TMT market.”

“We were pleased to host the TMT Predictions with in Kuwait for the first time, showing their commitment to the development of the TMT sectors in the country and the wider region,” Saguto added.

In his turn Eng. Ayman Al Bannaw, Chairman & CEO of NOORTEL said: “We value our relationship with Deloitte, and are pleased to participate in bringing this unique event to Kuwait, which we would like to see continue in the coming years.” 

The second annual Middle East TMT predictions report is a tailored version of the global TMT predictions report which has been in circulation for the last 13 years. It covers the latest TMT industry trends, which is presented and shared with key TMT players spanning over 70 countries across the world. With the Middle East’s rising growth, significance and influence in the global TMT space, this year’s Middle East Predictions report, provides the most in depth regional perspective on the latest TMT trends, highlighting the foremost developments unique to the region.

The report further covers the far reaching implication and impact of these trends on key areas of the wider Kuwaiti and Middle East economy, addressing key issues in the education, healthcare, small-mid size business and sports sectors.

“We seek not only to share a point of view, but more importantly to spark key discussions amongst Kuwait’s leading TMT players and those in key sectors of the wider Kuwaiti economy in a forum which stimulates their strategic thinking and market actions for the year ahead and beyond,” Saguto explains.

Key trends and outlooks derived from the report for Kuwait include:

Technology:

• Massive Open Online Courses (MOOCs): Kuwait is expressing interest in MOOCs, with universities starting to recognize MOOCs through certificates of achievement
• eVisits: based on GCC estimates, the addressable market for eVisits in Kuwait is about $155-210 million, which could increase by as much as $17-23 million this year

Media:

• Broadcast Sports Rights: Kuwaiti premium broadcast sports rights are predicted to grow by 15-20%, driven mainly by growth in broadcast rights of the top local football league

Telecommunications:

• Short Messaging Services versus Instant Messaging: Coupled with increased multimedia sharing in the region, Instant messaging services on mobile phones (MIM) is a stronger driver for data consumption and can expand new revenue streams for Kuwaiti operators.
• Kuwaiti operators are likely to follow the lead of Saudi telecom operators in partnering with Instant Messaging providers to encourage data consumption and expand new revenue streams

Full details on the Middle East TMT Predictions and a copy of the report are available here: www.deloitte.com/metmtpredictions2014

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About Deloitte & Touche (M.E.)

Deloitte & Touche (M.E.) is a member firm of Deloitte Touche Tohmatsu Limited (DTTL) and is the first Arab professional services firm established in the Middle East region with uninterrupted presence since 1926.

Deloitte is among the region’s leading professional services firms, providing audit, tax, consulting, and financial advisory services through 26 offices in 15 countries with more than 3,000 partners, directors and staff. It is a Tier 1 Tax advisor in the GCC region since 2010 (according to the International Tax Review World Tax Rankings). It has received numerous awards in the last few years which include Best Employer in the Middle East, best consulting firm, and the Middle East Training & Development Excellence Award by the Institute of Chartered Accountants in England and Wales (ICAEW).