New Zealand spends about $6 billion annually on domestic IT requirements, industry lobby group NZICT says.

The government absorbs around 40% of that, while the corporate sector takes up the remaining 60%. NZICT chief executive Brett O’Riley said technology was one of New Zealand’s fastest growing industries. Mr O’Riley said this was reflected in the recent Deloitte Technology Fast 500 report, where 51 New Zealand companies were included.

Perhaps unsurprisingly, the value of the world’s biggest finance brands has been hammered in Interbrand’s latest survey.

Coca-Cola again topped the consultancy’s annual study, which ascribes a value to the top 100 global brands, with a brand “price tag” of $US66 billion.

But the financial services companies included in the study did not fare so well.

Citi was the top-ranked investment bank in 19th place, but its ranking dropped from 11th last year and its brand value fell 14 per cent to just over $US20 billion.