Cairo has been recognized as one of the world’s top ranking offshoring cities, ranking 7th in the latest ‘Top 50 Emerging Outsourcing Cities’ report conducted by Global Services-Tholons.
Cairo, previously the only city from the Middle East and North Africa to appear on the list, has reinforced its prominence as one the leading offshoring destinations in the world. The report cites Cairo’s multilingual workforce, business analytics and testing services as its strongest key functions.
This year’s report featured nine new entrants, with Egypt’s Alexandria breaking into the top 50 for the first time. Egypt now has two cities in the list highlighting the progress it is making and turning the country into a hotspot for global outsourcing.
Commenting on the findings, Dr. Hazem Abdelazim, CEO of Egypt’s Information Technology Development Industry Agency (ITIDA) said: “With increased competition among service providers offering similar services, distinction has become difficult to achieve, placing a greater emphasis on location. Businesses are not only looking for cost-effectiveness but are also seeking a location which offers a strong, multi-talented workforce.”
The report aims to outline globally recognized cities that have emerged as outsourcing hot spots, and identifying their ‘specific’ outsourcing offering and particular functions including F&A, healthcare, R&D and testing services.
Dr. Hazem Abdelazim adds, “Investment in the ICT sector has been key to the growth of Egypt’s industry. As a result of this, we have developed Cairo into one of the world’s top outsourcing cities and with Alexandria entering the list, it’s clear to see the benefits this investment is having on attracting new companies to Egypt.”
Smart Village, the Egyptian ICT hub located in the suburbs of Cairo, offers facilities for more than 35,000 people and is home to a growing number of regional and international technology vendors including Vodafone, Ericsson, Microsoft and Oracle. Additional Smart Village offices are being planned for Alexandria to accommodate the countries fast-growing ICT industry, ultimately creating space for over 100,000 ICT personnel.