Sri Lanka was placed 21st in the Global Services Location Index (GSLI) released by A.T. Kearney Global Management Consultants, a report that rank top 50 countries worldwide as the best destinations for providing outsourcing activities.
This is an impressive score for an industry new comer and ICT will be one of the most important sectors for future prosperity of Sri Lanka. The country needs to have focused strategies to market globally while addressing the weaknesses, A.T. Kearney Global Business Policy Council Fellow Simon Nihal Bell said.
Sri Lanka was benchmarked against 11 successful knowledge services locations to be ranked 21st under the structure of GSLI. The country needs sustainable pool of talent where the industry is well extended beyond traditional IT related services to call centre and BPO operations, he said at the presentation of the findings of A.T. Kearney’s Country Competitiveness Study for the IT/BPO and Knowledge Services Industry in Sri Lanka held last week in Colombo. Sri Lankan firms provide sophisticated accounting services and financial analytics for global clients as well as legal, architecture, medical and journalism support services. The country is emerging as a lowest risk, low cost, better environment and high quality destination in knowledge services. It is poised to become a major player global BPO and knowledge services industry where the country could exceed the US $ one billion target even before 2016, Simon said.
The Sri Lankan IT/BPO Industry has grown positively in the last 5 years. In terms of export revenue, it has moved from a mere US$ 60 million to a staggering US$ 400 million industry. It is now the fifth largest foreign exchange earner in the country.