Leading global research firm, supported by Egyptian Government Agency ITIDA (Information Technology Industry Development Agency), assesses the IT, business processes and engineering research & development potential in Egypt.
DALLAS, July 30, 2024 /PRNewswire-PRWeb/ -- Everest Group has released its in-depth report evaluating the nation's potential as a location for offshore global services.
For IT, BP and ER&D-focused ventures looking to expand their offshore locations for global business services, the research found that Egypt proves a fertile ground. The nation has remarkable momentum, driven by its compelling talent-cost proposition, strong government support, mature global services market, and geostrategic positioning
"Egypt offers significant potential for global services delivery, providing over 20% cost savings compared to Asian giants like India and the Philippines," says Parul Jain, Vice President at Everest Group. "With the largest global services workforce in the MEA region, and major players like _VOIS (Vodafone) and Concentrix surpassing 10,000 FTEs, Egypt's prominence in the industry continues to grow."
Key Takeaways from the Report:
- Currency depreciation has played in Egypt's favor, resulting in high cost-efficiency and offering 70-80% cost savings over Poland
- Its multilingual diversity with a blend of European, African, and a few Asian languages boosts appeal, with instances of players supporting up to 20 languages
- Traditionally leveraged for business process (BP) delivery, companies are pivoting toward delivering technology services on account of a strong talent pool and supportive business environment
- There is moderate to high maturity for IT services delivery along with presence of sizable employed pool
- Government initiatives such as "Egypt Vision 2030" and "Digital Egypt" further enhance the location's attractiveness for tech startups and foreign investments
- It stands out as one of the most mature locations in the MEA region for IT-BP-ER&D services delivery, accounting for 28% of the MEA's total global services headcount
- North America, the UK, and Europe are its largest client geographies, driven by cost advantage and time zone overlap
***Download a copy of the 2024 Everest Group ITIDA report***
About Everest Group
Everest Group is a leading research firm helping business leaders make confident decisions. We guide clients through today's market challenges and strengthen their strategies by applying contextualized problem-solving to their unique situations. This drives maximum operational and financial performance and transformative experiences. Our deep expertise and tenacious research focused on technology, business processes, and engineering through the lenses of talent, sustainability, and sourcing delivers precise and action-oriented guidance. Find further details and in-depth content at http://www.everestgrp.com.
Everest Group Engage
Everest Group's inaugural global conference event, "Everest Group Engage," will be held September 30 – October 2 at the Renaissance Dallas Hotel. The theme of the conference is "The Pragmatic Edge: Designing Your Future." The agenda will help C-suite leaders and teams in global business services, sourcing and vendor management, and shared services operate at peak productivity and efficiency. For more information, visit https://events.everestgrp.com/engage2024
Media Contact
Public Relations Everest Group, Everest Group, 2144513000, [email protected], www.everestgrp.com
Lucy Birch, Everest Group, 2144513000, [email protected], www.everestgrp.com
SOURCE Everest Group
Share this article