Russia's IT and telecoms market is booming and is set to grow by 20% next year. The expansion is being fuelled by the rapid development of wireless and internet services.
According to the Information Ministry, the market has grown by 25% compared to last year – boosted by Russian companies' capital investment. It adds that the number of internet users in Russia has grown by 40% this year, while the number of personal computers has increased by 35% year-on-year. In 2008, telecom and IT firms are expected to generate sales of more than $US 72 billion.