Tech Tip

Information Technology Outsourcing (ITO)

– 2011-09-21

After India, China and Russia, Egypt is now emerging as the new outsourcing location for business website designing and software solutions. Its attractive subsidies are designed towards providing training and education for new employee recruitment. Combined with service costs that are about 15% lower than those of Indian outsource service providers, Egypt is one of the most populous Arab countries to have a plethora of skilled professionals.

Indian companies like WIPRO are now outsourcing their back end and software projects to Egypt. Companies like these are planning on delegating approximately 20% of outsourcing jobs to Egypt, along with hiring over 400 professionals.

The high number of students graduating from Egyptian Universities with majors in Engineering and computers also adds to the country's professional employee bank. The country's reduced corporate tax rate by about 40% is also adding to the list of reasons as to why companies should outsource their work to Egypt. This factor has made Egypt a convincing investment destination.

The economic upheaval is a major reason for companies to be wary of outsourcing work overseas. At this time, companies are looking to cut any added service costs and control wage inflation at the same time. Outsourcing work to Egypt can be a viable option at this point of economic crisis. Its low wage inflation rate of about 5% is lower than any other emerging outsourcing location. Also the low currency fluctuation of the Egyptian Pound as against the US Dollar ensures operating cost stability in the region.

Companies in India are looking at Egypt to complement IT sector strengths and services, to produce solutions that make the best use of the individual country's abilities. All the mention factors along with a high standard of professionalism and skilled work force makes Egypt a hot spot for foreign companies to outsource work.

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