What Is The Future Of Outsourcing In Bangladesh?

Outsourcing is a successful business tactic that is increasing the efficiency of markets all over the world. Although this idea originated during the industrial revolution, around 82% of large companies worldwide outsource services.

Bangladesh comes under one of the fastest outsourcing destinations in Asia. The growth has been tremendous, especially with the technological advancement in Bangladesh since 2008. The ICT sector has grown leaps and bounds, opening doors to significant outsourcing.

Interested to know what these are? Read this article to find out!

How Did Outsourcing In Bangladesh Come Into Being?

The start of outsourcing happened with 300 contributors at the beginning of 2000. The landscape of the BPO sector has changed with the help of government support. Earlier, the main outflux of this business was centered around freelancers, but now it has reached an organizational level.

Prime Minister Sheikh Hasina brought the ICT sector back to life when she announced her “digital Bangladesh” vision in 2008. This changed the trajectory of outsourcing services from Bangladesh.

Standing shoulder to shoulder with competitors such as India and the Philippines, Bangladesh offers top-notch services at reasonable rates. Some areas of expert services are data input, customer help, and data analytics.

The Growing Market Of It Outsourcing In Bangladesh

There has been tremendous growth in IT outsourcing since 2008. Many start-ups and e-commerce platforms have opened new avenues of investment and opportunities. As a result, the revenue of this sector has increased five times since 2008, with more than one million employees in it.

To support this growing market, the government extended support in terms of ease in tax imposition and other incentives. Motivated by this, along with other available training programs, many youngsters are interested in IT ventures and technological research.

The overall development has made the market ecosystem of Bangladesh a lucrative option for ICT outsourcing. A few prominent sectors of outsourcing are:

• Software and web designing
• IT support and administration
• Graphic and app designing

Who Are The Main Contributors And Targets?

The main contributors are skilled IT youngsters who offer their refined services through the internet. This becomes easier with low-cost internet providers in Bangladesh. For instance, around 60 thousand individuals are registered on UpWork, a freelance job website.

Their services are mainly utilized by developed countries that want an extra set of helping hands but can’t afford expensive IT professionals. The Bangladeshi crowd who are looking for work readily meets this requirement.

They offer services at a lower cost as the daily living cost in Bangladesh is relatively low. Other than these, countries still new to digital platforms reach out for help. This includes countries like Bhutan, Uzbekistan, Africa, etc.

Final Words

The IT infrastructure and government support to enhance digital outsourcing are impressive. The outsourcing market is already drawing attention from the world, smartly focusing on prime clients. However, there is still a lot of scope for growth and advancement.

Training and support in communication development are required to ensure the country’s maximum potential is unleashed. The country’s economy can significantly grow due to many skilled and enthusiastic youngsters.

Are you someone looking for such services from Bangladesh? Find out some of the digital outsourcing services offered by DigiFea.com. Reach out to us via mail or call today!