Most CIOs Planning to Boost IT Investments for 2013

CIO - Fifty-one percent of IT leaders plan to increase their IT budgets in the coming year, according to a recent survey of 188 top IT executives conducted recently by CIO magazine.

This figure is up slightly from 47 percent reported in April, 2012 and fairly consistent with levels reported prior to August 2011 when economic events such as the downgrading of the U.S. bond rating and European economic instability caused some IT leaders to pull in spending.

Large company CIOs are more likely than their small and medium size counterparts to anticipate IT spending increases (57 percent, versus 45 percent).

The percentage of IT leaders planning to cut spending inched up slightly; 23 percent will decrease their IT budget, up slightly from 20 percent in April and 18 percent two years ago.

Nearly two-thirds anticipate their IT capital spending will remain the same (35 percent) or decrease (28 percent) and just one quarter plan to boost discretionary IT spending. IT leaders expect the percentage of the IT budget allocated to new projects will decrease to 47 percent, from 55 percent in April and 57 percent two years ago.