Offshore Outsourcing of Data Services by Insured Institutions and Associated Consumer Privacy Risks
Chart number 1 is titled "External IT Spending is Rising Rapidly, From 50 percent of Total IT in 1996 to Nearly 60 percent in 2006." This chart is derived from the TowerGroup and presents both internal and external IT spending for actual years 1996 through 2003 along with projected expenditures from 2004 through 2006. Internal IT spending falls between 1996 through 2003 from 50 percent of total spending to 44 percent. External IT spending rises during the same time by 50 percent of total expenditures to 56 percent. In the projected period, internal spending continued to decline dropping from 43 percent in 2004 to 41 percent in 2006. At the same time, external spending increases from 57 percent to 59 percent.