Egypt climbs from 11th to third place in Offshore BPO Confidence Index

Ahram Online , Sunday 26 Nov 2023

Egypt has made remarkable progress in the global business process outsourcing (BPO) industry, climbing from 11th in 2022 to third in 2023, according to the Offshore BPO Confidence Index, evaluated by Ryan Strategic Advisory.

Egypt secures third place in Offshore BPO Confidence Index
Egypt secures third place in Offshore BPO Confidence Index

 

The evaluation, which covers seven categories including the local labour market, infrastructure, commercial property, BPO ecosystem, political stability, public security, and economic stability, reveals that Egypt excels across all these areas, earning a confidence rating of 83.8 percent.

Positioned at the crossroads of Europe, the Middle East, and Africa, Egypt benefits from its unique geographical advantage. The country has strategically leveraged its location to attract global businesses seeking a favourable hub for their operations.

The report emphasized Egypt's efforts in upgrading its infrastructure, such as marine cable projects, and the notable increase in technological adoption.

Experts within the industry commend Egypt for its multilingual talents and business-friendly economic climate.

The Information Technology Industry Development Agency (ITIDA) has played a crucial role in advocating for favourable regulations, and the government plans to intensify efforts in promoting Egypt as a preferred offshoring destination.

The report shed light on Egypt's BPO sector, stating that it is now a powerful driver of future economic expansion and employment opportunities.

The government's continued support, coupled with the resilience of Egypt's BPO ecosystem, has propelled the industry to new heights. Digital exports grew from $4.5 billion in 2022 to $4.9 billion in 2023.

Building on this success, Egypt aims to double its export revenue from the outsourcing sector, reaching up to $9 billion by 2026. The country also plans to create more than 200,000 direct export job opportunities for its youth in the outsourcing field.

These ambitious targets demonstrate Egypt's determination to capitalize on its strengths and further stimulate economic growth.

Egypt's reputation as an attractive destination for global delivery operations is already well-established. The country is home to a wide range of multinational companies that recognize the value proposition it offers.

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