TAKE A STEP BACK AND THINK? What if we told you, in a country of 205 million, 161 million own a mobile phone - 72 million access the internet dailly and 64 percent of the total population is below the age of 30. Now what if we tell you, the average salary of a person working in information technology is $589 per month inclusive of benefits. Is Your IT Costing You More Then $600/Month?
As per the National Human Development Report (2018) launched by the United Nations Development Program (UNDP) Pakistan, Pakistan now boasts the largest percentage of youth population aged below 29 in its history and is ranked at fifth place worldwide in terms of its youth population. The country is also termed as one of the youngest countries in the world and second youngest in the South Asian region after Afghanistan. Currently, the youth population of Pakistan comes around 64% of the total population. The country also homes in a thriving middle class that is growing at a fast pace. People of Pakistan have aced in every part of life, be it science, sports, journalism, writing, education, finance, intelligence, music, acting, visual effects in the film industry, philanthropy and so on.
A number of famous startups that were founded or co¬ founded in Pakistan and the Middle East have major contributions from Pakistanis. Such as Careem, which is a ride-hailing service in a number of Middle Eastern countries, was co-founded by a Pakistani, named Mudassir Shaikha. Similarly, a Pakistani named Muneeb Maayr, who is also a co-founder of Daraz.pk, which is an e-commerce store, also founded Bykea, that is a bike ride-hailing service.
These people have not only made Pakistan proud but have also played a significant role in diminishing all the negativity that is linked with Pakistan and portraying the positive image of the country.
Pakistan literally means 'Land of Pure' in Urdu and Persian, is one of the fastest-growing countries in the world. As compared with other South Asian economies, which achieved economic growth and prosperity through effectively realizing their potential, Pakistan is still behind these countries. Since independence, the country has faced many problems in its way towards prosperity, be it bad governance, bureaucracy, religious extremism, terrorism and so on.
In the last decade, the situation has changed a lot. The government has taken a number of steps in bringing an enabling environment for domestic and foreign investors and has reduced the challenges they had to face in the past when investing in Pakistan. Therefore, despite the economic challenges that Pakistan is facing, the country is now on an upward trajectory and the world has started to realize that Pakistan has many potentials.
Government efforts for creating the enabling environment for investment in Pakistan have also led to increased investor confidence in Pakistan Stock Exchange and now it is among the best performing stock exchanges in the world. In October 2019, the country posted a $99 million current account surplus6. The sharp increase in the number of Pakistani startups every year as well as recent entry of international brands in Pakistan such as Careem, SWVL, Alibaba, Liber is also an indicator of increased investor confidence in Pakistan. Now, it is only a matter of time that the economic conditions of Pakistan will improve and soon it will be on its way towards sustainable growth and prosperity.
Pakistan - the land of numerous unexplored opportunities is located at the junction of South, West and Central Asia. Pakistan is located between 24 and 36.5 Northern latitudes and between 61 and 75.5 eastern latitudes. The area of Pakistan is at 881913 square kilometers. It lies in a region, which has a great political, economic and military importance. It neighbors with China in the north, India in the east, and Iran and Afghanistan in the west. Being in the same vicinity as two major powers, China and Russia also add to its position.
Pakistan is also a gateway to the six Muslim Central Asian states through Afghanistan. These states are landlocked and Pakistan can provide a link between the Gulf States as well as African, European and Central Asian countries. The moderate temperature in its coastal areas also adds to its strategic importance, as all the country's seaports remain open throughout the year. Further, there are a series of Muslim countries from the Middle East to the African continent, which is easily accessible from Pakistan. Thus, it connects almost all the Muslim countries of the world, as well as African, European and Central Asian countries from the Atlantic Ocean to the Arabian Sea.
Pakistan is one of the most strategically located country in the world that connects the east to the west through a network of sea, land and air linkages. Pakistan has been ranked as the 4th fastest growing freelance market with 47% growth in freelance earning leaving behind regional countries including India, Bangladesh, Philippines and Russia. The tech sector in is among the top 5 net exporters with the highest net exports in the services industries. More than 300 international companies including Global enterprises like IBM, Mentor Graphics, S&P Global, Symantec, Teradata (R), and VMware (Dell Technologies) have established global consulting services centers, research & development facilities, and Business Process Outsourcing (BPO) support services centers in Pakistan.
Pakistan provides exciting greenfield and growth opportunities for entrepreneurs, investors, and companies. It has a strong and promising startup ecosystem with notable innovators and disruptors. Many leading companies like FireEye, Careem and Cavium attained unicorn status while maintaining and growing their back-oce operations in Pakistan. The National Incubation Centers throughout the country have enrolled more then 140 startups since their inception in 2017, many of which are scaling in both domestic and international markets and gaining recognition due to their innovative ideas and technologies. It is a country, currently being defined by its youth. A workforce eager to excel in everything they do.