Slovakian IT services market reached $258.56 mln in 2004

Spending on IT services in Slovakia rose by a healthy 18.5% to total $258.56 mln in 2004. In local currency terms, however, the market grew by a more modest 4.0%. As a result of government initiatives to create a knowledge-based economy, recent political reforms, and EU accession, Slovakia is now a target for greenfield investments and multinational organizations looking to acquire local partners. IDC expects the IT services market to expand between 11% and 12% annually over the next few years.