{"id":1695,"date":"2022-05-27T19:05:55","date_gmt":"2022-05-27T14:05:55","guid":{"rendered":"https:\/\/testing.dicecamp.com\/insights\/?p=1695"},"modified":"2022-05-30T12:40:30","modified_gmt":"2022-05-30T07:40:30","slug":"pakistan-is-a-26-billion-worth-gold-mine-of-tech-freelancers","status":"publish","type":"post","link":"https:\/\/testing.dicecamp.com\/insights\/pakistan-is-a-26-billion-worth-gold-mine-of-tech-freelancers\/","title":{"rendered":"Pakistan is a $26 Billion worth Gold Mine of Tech Freelancers!"},"content":{"rendered":"\n

Did you know just 5% of the total Youth population of Pakistan can bring home $26 Billion per annum through freelancing? This number alone is greater than the total exports of Pakistan. All we need is a \u201c3M Freelancers Tsunami\u201d project just like the \u201c10 Billion Tree Tsunami\u201d initiative.<\/p>\n\n\n\n

Let\u2019s do some math: <\/p>\n\n\n\n

Youth Population of Pakistan (29%):<\/strong> 58M
5% of Youth starts Freelancing:<\/strong> 58M x 5% = 2.9M freelancers
Avg. Annual Income per Freelancer:<\/strong> $9,000
Total Annual Income:<\/strong> 2.9M freelancers x $9,000 = $26.1 Billions<\/p>\n\n\n\n

For every 580k freelancers, there is going to be an increment of $5.2 Billion in total annual IT exports.<\/span><\/p>\n\n\n\n

5% of Youth starts Freelancing: 58M x 5% = 2.9M freelancers<\/p>\n\n\n\n

Avg. Annual Income per Freelancer: $9,000<\/p>\n\n\n\n

Total Annual Income: 2.9M freelancers x $9,000 = $26.1 Billions<\/p>\n\n\n\n

For every 580k freelancers, there is going to be an increment of $5.2 Billion in total annual IT exports.<\/p>\n\n\n\n

Here is the 5 years projection table: <\/p>\n\n\n\n

\n
\n
<\/td>Yr1<\/strong><\/td>Yr2<\/strong><\/td>Yr3<\/strong><\/td>Yr4<\/strong><\/td>Yr5<\/strong><\/td><\/tr>
Total Population<\/strong><\/td>200M<\/td>200M<\/td>200M<\/td>200M<\/td>200M<\/td><\/tr>
29% Youth (15- 29 Yrs)<\/strong><\/td>58M<\/td>58M<\/td>58M<\/td>58M<\/td>58M<\/td><\/tr>
Yearly New Freelancers %<\/strong><\/td>1%<\/td>1%<\/td>1%<\/td>1%<\/td>1%<\/td><\/tr>
Total No. of Freelancer<\/strong><\/td>0.58M<\/td>1.16M<\/td>1.74M<\/td>2.32M<\/td>2.9M<\/td><\/tr>
Avg. Income per person<\/strong><\/td>$9,000<\/td>$9,000<\/td>$9,000<\/td>$9,000<\/td>$9,000<\/td><\/tr>
Total Annual Income<\/strong><\/td>$5.22B<\/td>$10.44B<\/td>$15.66B<\/td>$20.88B<\/td>$26.10B<\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div>\n<\/div>\n\n\n\n

In the above projection, few safe assumptions have been considered – for example youth population and monthly average income are considered constant and at the least –  but it is highly likely that these numbers will rise in the coming years. <\/p>\n\n\n\n

Now, the question is, how to produce this number of new freelancers every year? <\/p>\n\n\n\n

Producing Five Lac and Eighty Thousand tech freelancers in a year won\u2019t be a child\u2019s play but through a combined effort of Government and Youth, it can be achieved. Pakistan needs a national level tech skills development and employability platform. It\u2019s essential that it\u2019s run by the private sector to enable rapid growth but Government\u2019s endorsement is a must.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The gamification based platform needs to take the follow a 5-step framework: <\/p>\n\n\n\n

Step-1: Career Track Setting<\/strong><\/p>\n\n\n\n

The first mistake that youngsters make is not exploring their true passion and potential. Instead, they just follow what is highly demanded and highly paid. They need immediate guidance through career coaching, mentorship by industry experts and career training. Furthermore, they need to have a clear career roadmap of at least the next 5 years.<\/p>\n\n\n\n

Step-2: Skills Development<\/strong><\/p>\n\n\n\n

The next step is to provide them skills training as per their road-map. The skills can be acquired in various ways i.e. through industry led training bootcamps, and private tuitions etc. <\/p>\n\n\n\n

Step-3: Pre-Assessments<\/strong><\/p>\n\n\n\n

Helping tech professionals to showcase themselves in a manner so it is quick and easy for the employer to hire them. Pre-evaluation techniques can be adopted where the industry professionals interview the upcoming talent and grade their profiles. Furthermore, international certifications are also a good proof of candidates\u2019 skillset. <\/p>\n\n\n\n

Step-4: Opening Network Opportunities<\/strong><\/p>\n\n\n\n

It is very important to encourage the youth to network with the right people to get help and advice. Pakistan doesn\u2019t have any of their own professional networking platforms. Furthermore, there needs to be frequent events and meetups where like minded people can gather and share their knowledge with others. <\/p>\n\n\n\n

Step-5: Finding Work<\/strong><\/p>\n\n\n\n

Once all the previous 4 steps are accomplished gracefully, this step gets very easy. There are platforms through which the individuals can find work online. But the Government can also play an important role in promoting its talent globally. <\/p>\n\n\n\n

We, at Dice Analytics<\/a>, have been using this model for the past 5 years and it has proven to be very successful and can be scaled at the national level. <\/p>\n","protected":false},"excerpt":{"rendered":"

All we need is a \u201c3M Freelancers Tsunami\u201d project just like the \u201c10 Billion Tree Tsunami\u201d initiative<\/p>\n","protected":false},"author":3,"featured_media":1770,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,99],"tags":[28],"class_list":{"0":"post-1695","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-featured","8":"category-freelancing","9":"tag-articles"},"_links":{"self":[{"href":"https:\/\/testing.dicecamp.com\/insights\/wp-json\/wp\/v2\/posts\/1695","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/testing.dicecamp.com\/insights\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/testing.dicecamp.com\/insights\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/testing.dicecamp.com\/insights\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/testing.dicecamp.com\/insights\/wp-json\/wp\/v2\/comments?post=1695"}],"version-history":[{"count":19,"href":"https:\/\/testing.dicecamp.com\/insights\/wp-json\/wp\/v2\/posts\/1695\/revisions"}],"predecessor-version":[{"id":1772,"href":"https:\/\/testing.dicecamp.com\/insights\/wp-json\/wp\/v2\/posts\/1695\/revisions\/1772"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/testing.dicecamp.com\/insights\/wp-json\/wp\/v2\/media\/1770"}],"wp:attachment":[{"href":"https:\/\/testing.dicecamp.com\/insights\/wp-json\/wp\/v2\/media?parent=1695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/testing.dicecamp.com\/insights\/wp-json\/wp\/v2\/categories?post=1695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/testing.dicecamp.com\/insights\/wp-json\/wp\/v2\/tags?post=1695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}