Information & Communication Tech Report

Today [Oct 17], the Minister for the Cabinet Office with Responsibility for Government Reform Lovitta Foggo, released the 2017 Information and Communication Technology [ICT] Profile for the year ended 2017.

“The profile shows the core indicators on the use of ICT by businesses with comparisons between 2016 and 2017,” a Ministry spokesperson said.

“Some of the highlights include:

• The ICT sector accounted for 3.6 per cent of the total Gross Domestic Product.

• ICT-related employment represented 2.1 per cent of total filled jobs in 2017.

• The number of IT professionals increased 1.8 percent year-over-year.

• In 2017, the use of computers for business operations grew 4.8 percentage points to 93.5 per cent

• The use of cloud services grew 7.1 percentage points to 48.6 per cent.

• The majority of businesses surveyed [51.1 per cent] did not outsource their ICT needs. Over a third of all businesses outsourced their ICT needs to other local businesses only, 5.5 per cent outsourced to overseas businesses only, and 6.8 per cent utilized a combination of local and overseas businesses.

• Gross median annual income for ICT-related jobs decreased 7.4 per cent to $82,180 in 2017 but still ranked above the economy-wide gross median annual income of $64,250.

The report follows below [PDF here]:

#BermudaBusiness

Category: All, Business, News, technology