Egypt IT/ITES Sector boosts its global position and attracts more foreign investments
Recent international reports and research analysts highlighted the steady growth, strong performance and the resilience of the Egyptian IT sector along with the leaps that Egypt has made in the IT/ITES industry in the last couple of years and its already-established reputation as an off shoring destination of choice.
A recent report published by PULSE magazine; the official magazine of the International Association of Outsourcing Professionals (IAOP), stated that Egypt has demonstrated increased efforts in developing the infrastructure, nurturing its talent pool through multiple training programs on advanced technologies such as data science, big data analysis, Internet of Things (IoT), Artificial Intelligence (AI), cybersecurity; in cooperation with major players of multinational companies.
Entitled “Egypt is changing the World’s Reception about the Country, from being the Home of History toward a Nation with Competitive Edge”, the report added that outsourcing workforce in Egypt stands at around 170,000 employees, providing services to 100 countries around the world, in 20 different languages.
The Information Technology Industry Development Agency (ITIDA) has reported that it has agreed with six global IT and BPO players to expand their operations in Egypt resulting in creating more than 3,700 jobs.
Maha Rashad, Acting CEO of ITIDA said that the high demand from multi-national companies to establishing and expanding their captives reflects the increased confidence in Egypt’s capabilities as an outsourcing destination that is mainly distinguished by the abundance of multilingual talent and in-demand technical skills.
Peter Ryan, CEO of Ryan Strategic Advisory and one of the key analysts in the BPO spectrum, shared his view on the country emphasising that Egypt’s outsourcing value proposition is more relevant than ever.
He added that the Egyptian government has prioritised attracting new BPO investment, touting the country’s skilled labor force, incentives and focus on quality while confirming that Egypt’s front-office outsourcing sector never shrank, a testament to the value that its investors place in that location. Egyptian BPO 2.0 is a reality.
Based on a recently-published survey by Gallup, Egypt has been ranked as the safest country in Africa and came in a higher rank than the UK and the USA, which qualifies the country to be a perfect destination to attract tech investments and provide offshore services to the globe.
Egypt has been identified by Gartner as one of the primary destinations for Offshore and IT services; repeatedly in years 2016 and 2017 after it had been removed from the list for more than five years since 2011. Additionally, Egypt ranked first in the Middle East and Africa in the A.T. Kearney 2017 Global Services Location Index (GSLI).
Recognising the country’s capacities of the ITO, BPO, and Shared Services Industry, The German Outsourcing Association has revealed its guide to help decision-makers better understand the advantages and conditions in working with Egyptian IT-and business process service providers.
The Egyptian ICT sector has been witnessing unprecedented growth and is currently one of the largest contributors to the country’s GDP growth and a major exporting sector with more than 3.25 billion USD export revenues.