Business Process Outsourcing (BPO) has long been the domain of countries like India and the Philippines with their young, educated and English-speaking population. Today, the BPO industry has acquired even greater impetus, given the need for businesses to identify smart solutions to optimize cash and preserve working capital, but without compromising on quality.
With its young, technologically savvy and well-educated workforce, Egypt could capitalize on this trend to counterbalance the economic repercussions of COVID-19. Egypt’s universities produce half a million graduates annually. The country is also home to one of the world’s largest IT workforces – which is unmatched in the region. Furthermore, Egypt’s engineering talent and growing entrepreneurial scene can complement a thriving market for digital and analytics offshoring, which has been steadily gaining momentum and will acquire increased relevance at this time.
Native Arabic gives Egyptian workers natural access to 300 million Arabic speakers around the globe, including its home market. Growing language skills could also broaden the appeal to other markets. Add to this its geographic location at the heart of the MENA region and Egypt makes an attractive BPO location for foreign investors.
Underlining the potential of Egyptian BPO for inward investment is Vodafone International’s recent acquisition of Vodafone Egypt International Services – described as the largest offshoring and outsourcing service provider in the region. Vodafone expects to expand the 7,000-strong workforce further following the acquisition.
By taking a more strategic approach to the BPO sector and reinforcing the investor-friendly credentials of the country, the Egyptian government can expect to receive both interest and investment.
By creating the frameworks that support and strengthen this industry, manifold benefits will be created for corporates, customers and a young, employment-hungry workforce.
Source: WEF
