Egypt’s ICT, outsourcing sector receiving top praises from global industry reports

Egypt’s ICT and outsourcing industry has been receiving plenty of praise from international trade and consulting houses, according to a report published by the Information Technology Industry Development Agency (ITIDA). Egypt’s ICT exports rose to USD 1.78 bn at the end of FY2016-17, driven by the 50% drop in the cost of IT services following the EGP float, making it one of the top countries to provide outsourcing services to the EU and MENA regions, ITIDA said, citing a Gartner report. France’s Capgemini Consulting says Egyptian software sales are expected to increase to USD 304.2 mn by 2020, up from USD 182.5 mn in 2016. Also, Egypt’s business process outsourcing market is expected to grow 14% in 2017. Egypt’s outsourcing industry grew an average 7.5% annually from 2014 to 2016, according to Oxford Business Group. The report says Egyptian talents make Egypt the best outsourcing destination in the region. The Outsourcing Destination Guide Egypt says outsourcing workforce is expected to reach 161,000 by 2020.