The IT industry in Pakistan has been growing phenomenally for the past 10-12 years. Its tremendous growth can be identified from its contribution to the economy.
IT sector’s share in the total exports accounts for 3.5 percent, which is more than double from 2006, which was 1.3 percent.
The industry is projected to expand and grow across different categories. Along with contributing to the country’s exports, it has been generating numerous jobs for people.
According to the Pakistan Technology Industry Survey 2018, the IT community is going to hire between 12,000 and 18,000 employees in 2019.
The survey has taken into account 94 technology companies across the country. It focused on the companies engaged in software and IT-enabled services exports from Pakistan.
The survey further reveals that 63 percent of the said companies generated average revenues of US$23,000 or less per year per employee.
Moreover, 58 percent of the companies earned less than US$800,000 per year while 86 percent of the business employed less than 180 individuals among which 26 percent were women.
Although the authors of the survey deemed the industry profile promising, they said that they expected the numbers to be higher than recorded.
“We thought the numbers would be higher, but in our space, especially software exports smaller is better. Bigger companies grow at slower rates. Smaller businesses grow at a significantly faster clip.”
“While the number of larger companies has increased compared to the studies done in 2004 and 2007, we are still very much a young industry and the numbers show that. The numbers show that there is a lot of young blood at work and there is room for tremendous growth in the coming years,” it said.
Moreover, the industry’s growth has brought many people to work, thus increasing employment opportunities.
“In 2004 we were a 4,000 strong professional community. 14 years later in 2018, we are somewhere in the 60,000 – 75,000 employee range. That is a 15-20 times growth in employment. All this based on a small informal sample of the industry. The numbers are likely to be higher for an industry-wide study,” stated the authors.
Via The News