Pakistan has recently been recognized as the top global destination for IT and IT-enabled services (IT&ITeS) outsourcing, according to the latest reports.
This accolade comes from Kearney’s 2023 Global Services Location Index, highlighting Pakistan’s growing stature in the global tech industry.
Rising IT&ITeS Sector
Pakistan’s ICT sector has seen exponential growth, boasting over 20,000 registered IT & ITeS companies as of recent reports. These companies operate both domestically and internationally, contributing significantly to the economy.
During the fiscal year 2024, ICT exports surged to $2.283 billion, representing 39.31 percent of total service exports. This marks a substantial increase, with ‘Other Business Services’ trailing far behind at $1.205 billion.
Impact of Freelancers
Freelancers in Pakistan have also made notable contributions, sending $350.15 million in foreign exchange earnings back into the economy during FY 2024. This highlights the sector’s role in bolstering Pakistan’s foreign reserves and economic stability.
Empowering Women in Technology
In a significant development, the Pakistan Software Export Board (PSEB) launched its first women’s software technology park at the Women’s University of Bagh AJK during FY 2024.
This initiative aims to empower women in technology and foster a more inclusive tech ecosystem. Additionally, the National Incubation Centers (NICs) have successfully nurtured over 1,480 startups, created over 128,000 jobs and attracting investments exceeding Rs. 23 billion.
This initiative has also empowered over 2,800 women entrepreneurs, contributing to a more diverse and dynamic startup landscape.
Pakistan’s emergence as a global hub for IT outsourcing is a testament to its rapid technological advancement and growing influence in the global tech arena.
With robust government support, innovative initiatives, and a skilled workforce, Pakistan is poised to further strengthen its position as a preferred destination for IT investments and outsourcing opportunities.
