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Pakistan

Pakistani youth power growth in freelance economy: report

The 42 percent increase in Pakistani freelancers since Q2 2018 was fueled by several factors, most notably a very y
13 Jan 2020
  • The 42 percent increase in Pakistani freelancers since Q2 2018 was fueled by several factors, most notably a very young population, 70pc of which are under the age of 30.
  • A more technically-oriented education has helped Pakistan youth participate in the gig economy.

Pakistani youth has propelled the country among the top destinations offering freelancing services, after Pakistan was placed at fourth spot, well above India and Bangladesh with 47 percent growth in freelance revenue in a recently released report by Payoneer.

As per Payoneer's report The Global Gig-Economy Index for Q2 2019, the 42 percent increase in Pakistani freelancers since Q2 2018 was fueled by several factors, most notably a very young population, 70pc of which are under the age of 30.

“Government investment in enhancing digital skills has helped create a skilled freelance workforce, while blanket 4G coverage across Pakistan has given freelancers unprecedented access to international jobs,” said Mohsin Muzaffer, Payoneer, Head of Pakistani Business Development, Payoneer.

The report pointed out that a more technically-oriented education has helped Pakistan youth participate in the gig economy. “This investment in the younger generation appears to be paying off,” said the report, after Pakistani freelancers younger than 35 generated 77pc of revenues in Q2.

The list was topped by the United States with a 78pc year over year revenue growth, with UK and Brazil claiming the second and third sport, with Year on Year revenue growth of 59pc and 48pc, respectively.

Meanwhile, fellow South Asian neighbors India and Bangladesh were also not far behind, as the two grabbed the seventh and eighth rank, with 29pc and 27pc revenue growth, respectively.