Survey indicates optimism among technology execs

A survey by two PR companies - Eurocom PR Worldwide and Simpson FT PR - suggests that recovery in the technology market is believed to begin in the second and third quarters of 2004.

The study was carried out among almost 200 senior technology executives in 16 countries, including Ireland.

It found that a combined 50% believe that recovery will begin in the second (27%) or third (20%) quarters of this year.

One in three believes that the recovery has already begun.

Three-quarters of the respondents (76%) are more confident about tech prospects in 2004 than they were in 2003.

One in five (19%) report the same level of confidence, while 5% remain pessimistic.

The survey suggests controlled optimism on job prospects - 57% expect to increase jobs over the next six months and 39% believe that recruitment is on hold, while just 4% predict a fall in employment.

The sector is more bullish on revenues than last year, with 78% predicting an increase in sales over the next six months, compared to 54% in the 2003 survey.

One in five (19%) anticipate flat sales, compared to 34% last year, while just 3% are expecting lower revenues (11% in 2003).

The biggest threat to revenues is seen as a slowdown in the global or US economy.

Continuing nervousness over global terrorism ranks in the top four dangers to recovery.