Eurocom Survey Suggests Tech Recovery on the Way with New Confidence on Jobs, Revenues

London 16 February 2004: An international survey by Eurocom Worldwide, the global PR network, suggests that recovery in the technology market will kick in over the second and third quarters of 2004 – and in some sectors may have already begun.

The study amongst almost 200 senior technology executives in 16 countries finds that almost 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.

“Despite the increase in IT equities over the past year, the signs of a full blown recovery have been patchy but this survey suggests confidence returning to the sector for the first time in three years,” commented Tom Burgess, CEO Eurocom Worldwide.

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. 39% say 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).

“Technology executives tend to be stoically optimistic on revenues but a more valid gauge of increased confidence is jobs,” added Tom Burgess. “We are definitely seeing a swing to a more optimistic outlook on the recruitment front compared to last year. Those expecting to increase jobs have almost doubled while those anticipating further jobs layoffs has fallen significantly from 16% to 4%.”

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.

Notes For Editors:

About Eurocom Worldwide
Eurocom Worldwide is a managed group of public relations firms specialising primarily in business to business with a focus on technology. Eurocom has developed a global network of 50 offices in 37 countries worldwide bringing together 400 people working for 500 clients. Eurocom is the fifth largest independent PR Network in Europe (Source: PR Week UK 2003), though the only one that specialises primarily in technology markets. Eurocom also has specialist international teams covering Investor Relations and Corporate Social responsibility. For more information visit or call +44 1628 898 007 or email
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Isabel Radwan
Eurocom Worldwide
Tel: +49(0)17650284292

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Eurocom Worldwide
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