Pakistan ranked third in global freelance market

Pakistan ranked as the third most popular country in global online gig industry. The global freelance market becomes elevated with more and more professionals from all over the world revolving to the internet for their business.

Pakistan ranked third in global freelance market

Across Pakistan enhanced internet access to more than 2,000 cities, a large number of graduates inflowing the workforce, and government’s efforts to promote freelancing are the key factors behind this growth.

The State Bank of Pakistan (SBP), in its foremost periodical report on the fiscal year 2018-2019, said Pakistan is figuring significantly in Business Process Outsourcing (BPO) segment.

Globally, the BPO industry has witnessed a period of healthy growth post 2002 and, according to industry experts, has expanded into a $180 billion industry.

It is predictable that this market will grow further to $250 billion by 2020, as remote work is getting increasingly popular around the world, particularly via freelancing websites such as Upwork and Fiverr.

Online gig industry is managed via online platforms with short span of employment. Though, seeing as the BPO industry is comparatively new to the country, it is still not being chase as a long-term career.

The more competent employees inclined to upgrade their careers and move into software development, quitting the BPO industry after a very short span of time.

Cross-border payment solutions such as Payoneer and Skrill are available for individuals and startups associated with the freelancing and the BPO industry, little progress has been made in introducing the most widely used digital payment service of PayPal.

Ministry of Information Technology and Telecommunication (MOITT) and connected private enterprises, including the launch of National Incubation Centers and the Digital Skills Training Programs initiatives has been taken.

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