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Short Take: 1997 IT spending hit $1.8 trillion worldwide

Worldwide information and communications technology spending reached $1.8 trillion last year and is growing much faster than the global gross domestic product, according to a new study by International Data Corporation. Through 1997, 118 million PCs had been installed in homes and educational institutions across the globe. The study forecasts 320 million people will access the Web by 2002. Asia-Pacific, excluding Japan, was the fastest growing IT market during the last five years.

Worldwide information and communications technology spending reached $1.8 trillion last year and is growing much faster than the global gross domestic product, according to a new study by International Data Corporation. Through 1997, 118 million PCs had been installed in homes and educational institutions across the globe. The study forecasts 320 million people will access the Web by 2002. Asia-Pacific, excluding Japan, was the fastest growing IT market during the last five years.