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Tuesday, July 23, 2013 - 06.27 GMT

Earnings from IT sector grow by 22.9%


Earnings from information technology enabled services (ITES) such as business process outsourcing (BPO) and knowledge process outsourcing (KPO) increased further in 2012, says the Central Bank Annual Report 2012.

Gross inflows into the computer and information services sub sector increased by 22.9 per cent to US dollars 436 million during 2012. Inflows on account of KPO, which is classified under ‘other business services’ also increased in 2012, and exports of BPO and KPO services are estimated to have exceeded US dollars 600 million in 2012, the Report further said.

Positive socio-economic developments in the country, relatively better IT infrastructure facilities, the availability of a skilled workforce, price competitiveness, and reliable and efficient services delivery helped sustain the growth in the industry.

According to the Report during 2012, Sri Lankan IT companies which provide software solutions to overseas clients, especially to the Middle East and the African region performed well with earnings growing by 12 per cent. Sri Lanka possesses a comparative advantage in BPO and KPO industries due to the availability of qualified professionals in fields such as finance and accountancy, engineering, law and architecture.

The AT Kearney Global Services Location Index (GSLI) - 2011 ranked Sri Lanka 21st in its index which identifies the leading outsourcing destinations globally, while Sri Lanka is featured among the top 30 in the Gartner Ranking.

Meanwhile, the Tholons Top 100 Outsourcing Destination Report -2013 ranked Colombo among the top 20 leading outsourcing destinations internationally. The Lanka BPO Academy, a recognised BPO training provider, plans to train more than 2,000 students and BPO professionals annually, thereby ensuring the availability of skilled labour required for the industry.





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Last modified: July 23, 2013.

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