Good prospects for the ICT services sector in Spain in the coming months. Such is so 81% of Spanish ICT companies expect a growth in their business for the summer, being the seventh consecutive month in which the expectations of business growth in our country improve the EU average.
This is one of the main conclusions of the latest installment of the monthly barometer ICT Monitor, prepared jointly by VASS and the Center for Economic Prediction CEPREDE. A report that also highlights that the digital services sector in Spain has achieved a year-on-year growth in its turnover of almost 12% between February 2022 and February 2021, which also translates into a 9.2% increase in the turnover ratio per employee in the last twelve months.
“If we take an average of the last twelve months, the growth of the activity of companies related to computer activities would rise to 14%. There is no doubt that the ICT sector is one of the most dynamic in the entire national economy, both in terms of business and job growth”, says Antonio Rueda, director of VASS Research and head of TIC Monitor.
And it is that the expectations of ICT entrepreneurs regarding the employability of their corporations are also positive, since almost 70% of companies expect to create net employment in the next three months. If this perspective is fulfilled, the arrival of August will have closed the largest cycle of job creation in the technology sector since the statistical records of VASS Research exist.
For the time being, the pace of job creation in the ICT services sector continues to rise and with good figures. In fact, the demand for specialized talent once again breaks the absolute growth record in the historical series, with an increase of +7% in year-on-year terms (February 2022- February 2021) and generating a dynamism 50% higher than the average of the rest of the tertiary sector.
Possible influence of war and inflation in the sector
The April edition of VASS Research’s TIC Monitor took into account for the first time the expectations of businessmen about how the invasion in Ukraine will affect the technology sector in Spain and the EU. And a month later his opinion has not changed, since companies in the sector do not foresee significant changes in the short term in their billing or employability caused by the business.
However, the VASS report warns about the possible effect of inflation in the digital services sector, which has experienced the greatest increases in costs and prices since 2008 and 2009. In addition, according to Antonio Rueda, “The structural lack of adequate profiles is leading to staff turnover problems in companies and salary increases that, inevitably, are being transferred to the price of the projects.” “For this reason, during the coming months we will have to be especially attentive to the evolution of inflation in order to determine the future of the sector in the short term.”