Bangladesh Expects 250% Increase In ITES Exports

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Bangladesh has made some remarkable strides in IT and it is fast becoming a major international provider of IT enabled services (ITES). With the launching of the first software tech park and work ongoing on a High Tech Park and a Tier 3 data centre, the local tech industry can be expected to develop further in the coming future.

Just last year, Bangladesh registered ITES exports worth $400 million and with the recent developments in the ITES sector, this figure is expected to jump by an incredible 250% to over $1 billion within the next three years, according to reports from Bangladesh Association of Software and Information Services (BASIS).

“Bangladesh offers some of the best IT services with the best price due to historic lower cost base in our country”

Firms in this sector currently employ over 70,000 professionals and within 2018, industry experts hope that the number will rise to 1 million. “The country has become a huge hub for freelance work via online marketplaces such as oDesk,” research consultancy AT Kearney said in a recent report.

“In fact, Bangladesh has become the number three country for contractors on oDesk in just three years, behind only the Philippines and India. It has quickly moved to the forefront of entrepreneurial activity thanks to its young, educated and rapidly growing workforce eager for opportunity,” the report further added.

“The country has now a large pool of talents capable of undertaking any IT services, outsourcing work as the country’s hidden potential is being recognised by the leading multinational corporations.”

Aiding the breakneck growth of the ITES sector is the fast rising mobile and internet penetration rates in the country. Currently, there are 117 million mobile phone users in Bangladesh that account for nearly 75 per cent of the mobile phone penetration in the country. Thanks to the rapid expansion of mobile phone network and broadband Internet network all over the country, the number of internet users in Bangladesh has exceeded 50 million- almost one-thirds of the country’s total population.

“Bangladesh offers some of the best IT services with the best price due to historic lower cost base in our country,” stated Dr A.K.M. Rafique Ahammed, Commercial Counsellor of Bangladesh. “The country has now a large pool of talents capable of undertaking any IT services, outsourcing work as the country’s hidden potential is being recognised by the leading multinational corporations.”

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