Computer and Information Technology (IT) services showed a remarkable growth in 2011, helping Sri Lanka to be ranked among the top 25 outsourcing destinations globally.
Gross inflows on account of the computer and information sub-sector increased by 34 per cent to US dollars 355 million during 2011, 2011 Central Bank Annual Report said.
Identifying the potential of the Business Process Outsourcing (BPO) industry, the Government has taken several initiatives to fast track the development of this sector by providing fiscal and other incentives and concessions, the report added.
The AT Kearney Global Services Location Index (GSLI) - 2011 has ranked Sri Lanka among the top 25 in its index identifying the leading outsourcing destinations globally, and Colombo was ranked among the top 10 emerging outsourcing cities by Global Services magazine.
Lanka BPO Academy, a recognized BPO training provider, which was set up in late 2010 plans to train more students and BPO professionals, which would facilitate the expansion of the BPO industry in Sri Lanka.
Meanwhile, inflows on account of Knowledge Process Outsourcing (KPO), which is classified under ‘other business services’ also increased in 2011. Despite the limited size of the workforce in relation to other large outsourcing players such as India, Sri Lanka possesses highly skilled professionals in the fields of IT, finance and accounting.
Professional expertise coupled with the location advantage in terms of time-differences is expected to place Sri Lanka as a preferred and an attractive outsourcing destination for KPO services, , the Central Bank stated.
President Mahinda Rajapaksa declared 2009 as Sri Lanka's Year of English and IT. The Government is using English and IT as instruments of rural empowerment; as powerful tools that could make the villages of our country a meaningful part of the global village.