The ICT, BPO Industry will achieve USD 2 billion in export revenue becoming the top revenue earner of the country within the next 10 years. A report from the Export Development Board (EDB) said it will also provide 100,000 direct employment opportunities within the next five years. The report said Sri Lanka is quickly
emerging as destination of choice for the ICT and BPO market and it has moved from 29th to 16 in A.T Kearney s Global Services Location Index in the last 12 months (GSLI 2009).
This ranking is an increasingly attractive off-shoring destination.
Colombo has been recognized as a global centre of excellence for finance and accounting with Global Services Magazine ranking the city fifth in the world.
The Sri Lanka proposition
* Sri Lanka produces 40,000 qualified accountants and 70 percent of this pool is prepared for BPO work.
* The Government support for education is very high with 5.4 percent of GDP being spent on primary education.
* Sri Lanka s 27,000 IT/ITES strong workforce is growing at annual rate of 30 percent.
* Sri Lanka s total cost per worker can be as much as 30 percent lower than other off-shoring destinations.
* An IT Park is being built over a 17-acre land at Katunayake. Another 110 acres have been allocated for an IT campus at Biyagama.
Leading global companies such as WNS, Amba Research and HSBC have set up their Finance and Accounting Outsourcing (FAO) centres in Sri Lanka.
Sri Lanka s per capita income is at US$ 2,400 the highest in South Asia.
Earnings from exports of ICT/BPO sectors have shown a steady upward trend over the last decade. The Sri Lankan ICT/BPO market has grown by 23 percent and will further increase following the end of the war.
The report included several factors influencing Sri Lanka s popularity as an offshore location. They are high level of education, excellent language capabilities, skilled workforce, financial attractiveness, government support, legal system, infrastructure, telecommunication and Blue Chip portfolio.