NEW YORK -(Dow Jones)- Latin American companies are preparing to ratchet up spending on information technology after rolling back outlays in recent years when a recession rocked the region, according to a survey published Tuesday.
The survey, sponsored by computer networking giant Cisco Systems Inc. and carried out by New York-based Kaagan Research Associates, found that 54% of the region's medium- and large-sized businesses plan to make major IT investments in the next two years.
In the region's largest market, Brazil, where the local currency weakened 35% against the dollar last year amid financial turmoil, 71% of the business executives polled said they're planning to make significant IT investments in the next year or two.
"I do think it bodes well for the long term," Keith Goodwin, who oversees Cisco System's Latin American and Canadian operations, said in a telephone interview.
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