Why Pakistan? What makes Pakistan stand out in the BPO Industry?
In the era of rapid globalization and technological revolution; the importance of countries playing a role in global economy can hardly be overemphasized. The world today has significantly expanded and meaningfully come together. The service industry accounts for the largest shared output in the Global North; while continues to remain the fastest growing and most substantial industry in the world. It is an industry that has created opportunities for business process outsourcing resulting in a network connected through advancement in knowledge, technology and shared skill sets.
In the case of Pakistan, a comprehensible growth in the BPO Industry has been observed; it has expanded to all sectors of the economy over time. According to stats, the service industry has become the largest contributor in the GDP of the country. Entrepreneurs and business leaders are exploring mechanisms that aid their businesses and startups to progress further; one such aspect that is looked at in today’s time is for their business is ways to deliver value while guaranteeing sustainability.
Pakistan has become one of the biggest success stories when it comes to providing services to offshore clients. Analyzing the service industry of Pakistan provides an extensive catalogue of why it should be on every country’s priority list. Here are some of the top ones:
- Cost Efficiency
Businesses and startups have an edge in Pakistan when it comes to costs and benefits. The counterparts in the West have comparatively higher salary demand as opposed to graduates in Pakistan. The economic edge can hardly be ignored when considering operations outsourcing to Pakistan by companies.
- Large Percentage of Youth
Pakistan’s large population is no secret to the world but nearly two-third of it is young people under the age of 25. Young, talented, skilled and cost effective workforce is what every business demands today. The diversity of skills sets and new ideas can hardly be ignored when considering the man power comprised of Millennials and Gen Z that Pakistan has at its disposal.
- Modern Infrastructure
Pakistan has been observed to be rapidly moving towards a digitized future, with an emerging mobile phone industry, millions of smart phone users, well organized fiber optics alongside 3G and 4G connections. Fortune 500 countries are working alongside several Pakistani firms characterizing Pakistan as a future hub of tech outsourcing.
- Benefits of Investment
The local laws in Pakistan favors the investor in many ways that others might not. Enjoying 100% repatriation of profits as well as ownership of equity is what makes investment a great initiative. When it comes to Intellectual Property Laws Pakistan was recently rated much higher in comparison to other countries. The control and mobility that investing in Pakistan offers along with the payback is rather a very convincing deal.
The globalized world is changing rapidly and services are one of the most important element assisting it in functioning. Businesses are not only aiming to become efficient but transforming through innovative mechanisms. The traditional way has become mundane and inflexible over time; businesses and companies need to move towards compelling, efficient solutions that countries like Pakistan provide in their booming service industry. Pakistan’s BPO Industry and its quick, high quality, efficient, cost effective opportunity is what the world is turning to for their needs.