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Brexit Crisis: Is It The Only IT Community Disrupter?

on July 26, 2016 3:00 PM By | Caroline Le Brun | 0 Comments | Telecom Expense Management cost savings IT Spending Brexit
As you may all know, on June 23, 2016 a referendum was held in the United Kingdom (UK) to decide whether it should remain in the European Union (EU).  The final decision for the referendum ended with the UK exiting the EU.  The UK is ranked 4th in the world’s global spending on IT.  If the UK decided not to use their resources on IT spending, it wouldn’t necessarily cause a global recession as they only contribute 5.3% to the world’s IT spend however, it would still cause some disruption.  The United States IT Spending accounts for 32.4% of the global spending on IT.  If the US were in a predicament that forced them to spend less on or even cut out IT spending altogether, it would cause greater concerns on a global level.  Regardless of the Consequently, the British Pound is at a 30 Year low against the US Dollar. Confidence in the UK’s economy has been severely shaken.  This has created a lot of uncertainty in terms of what it means for future trade relations between the world and the UK.   Many of the treaties that were made between the UK and the EU post World War II have become obsolete and now new negotiations must be made.  Due to all the uncertainty, the UK will have to be even thriftier with how they spend their money. 
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