As the term implies, Information Technology refers to all technologies related to processing all kinds of information. The scope of IT is thus enormous. On the technological side, IT may refer to the computer industry, telecommunications, software industry, publishing industry and others. Vast fields fall under all this such as operating systems, software development, networking, intranets, the Internet, databases, multi-media, video and audio technologies, and many more. During the past few years, major technological developments took place which brought IT into the limelight.
Personal computers are now capable of processing large amounts of information at very high speeds.
Movement of humans and goods between these areas are restricted and relative to unstable political environments. This situation makes it very difficult to develop industries and trade of conventional goods and materials and to compete in international markets. The most likely type of industries to succeed under such circumstances are service oriented industries. Ones that do not rely on movement nor geographic boundaries. IT industries are a perfect example.