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Egypt – finalist for Outsourcing Destination of the Year 2016
Posted on December 9, 2016
Attractive business environment, adequate multilingual talent supply, competitive operational cost, and sufficient government support – Egypt is a finalist for the prestigious Outsourcing Destination of the Year 2016 for the European Outsourcing Association (EOA) Awards.
As the center of excellence for outsourcing in Europe, EOA aims to advance the BPO industry and profession through education, awareness, thought leadership, and standards.
Over the last four years, Egypt has shifted from low-value to high-value services in business process outsourcing (BPO), information technology (IT), and research and development (R&D). Egypt’s ICT industry accounted for the 4.1 percent of the country’s GDP, and grew by 13 percent.
Silicon Waha, a newly establish company in Egypt is a collaborative environment of the government, academia, entrepreneurs, and ICT companies to generate 500,000 jobs. Innovator-friendly environment has also been launched through the Innovation Clusters Initiative which is a public-private partnership.
35 universities and 100 institutes have 500,000 annual graduates – 50,000 are IT-related and 220,000 are BPO-related. With its abundant talented and multi-lingual labor pool, Egypt serves more than 100 countries with 20 different languages.
Aside from this, Egypt has a low attrition rate and its government is investing heavily in talent management and skills development.
Oxford Business Group referred to Egypt’s BPO industry as going from strength to strength. Forbes ranked Egypt among the top 10 countries to launch start-ups. Raconteur ranked Egypt among the top 10 countries for outsourcing. The IMF noted Egypt as the second largest economy in Africa.
In 2010, Egypt received the EOA Offshoring Destination of the Year Award.
Source:
Egypt is a Finalist for the Outsourcing Destination of the Year 2016 Award, Yahoo!
