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.
Egypt
offers significant potential for global services delivery,
providing over 20% cost savings compared to Asian giants like
India and the Philippines.
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
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Engage," will be held September 30 –
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Hotel. The theme of the conference is "The Pragmatic Edge:
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For more information, visit
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Media Contact
Public Relations Everest Group, Everest Group, 2144513000,
PublicRelationsEverestGroup@everestgrp.com, www.everestgrp.com
Lucy Birch, Everest Group,
2144513000, lucy.birch@everestgrp.com, www.everestgrp.com
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SOURCE Everest Group