For the past decade, the IT sector of Pakistan has been booming. It has contributed heavily to the economy. In the total exports, the IT industry has shared 3.5%. In 2016 it was 1.3%, thus after a decade, it has doubled almost.
The IT industry has not just contributed to the economy of Pakistan but it has also created job opportunities. Pakistan Technology Industry Survey 2018 revealed that by 2019 12,000 and 18,000 people will be hired in the IT industry.
In the survey, 94 technology companies were included. These were the companies that exported IT and software services from Pakistan. It was also revealed that 63% of the companies’ average revenue was of $23,000 annually per employee.
Also, 58% of the companies earned less than $800,000 annually. 86% of the companies employed less than 180 employees. Out of this 26 % were women.
Authors of the survey said, “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.”
Adding, “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.”
Furthermore, the authors stated, “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.”