Saudi Arabia’s BPO industry to reach $5.7Bn by 2027
RIYADH, SAUDI ARABIA — The Business Process Outsourcing (BPO) industry in Saudi Arabia is expected to reach US$5.7 billion by 2027 with a compound annual growth rate of 10%.
According to joint research by Boston Consulting Group (BCG) and the non-profit organization Forward MENA, the Middle Eastern Kingdom is becoming a “hot spot” and “strategic hub” for outsourcing value chains and talent.
Key growth sectors in this area include financial services, manufacturing, and telecommunications.
BCG Managing Director and Senior Partner Leila Hoteit added that programs and projects within the Saudi Vision 2030 “all point towards vast outsourcing opportunities in the years to come.”
The report also revealed that total spending by Saudi Arabian organizations on outsourcing services from local and offshore providers was estimated at over US$2.3 billion in 2018.
In terms of the Kingdom’s future economic outlook, three job clusters were highlighted to help drive long-term strategies, which signal strong growth potential for job outsourcing.
The report added that Saudi Arabia’s talent pool supply for outsourced jobs comes mainly from local service providers, India, and neighboring Arab countries such as Egypt. Talent from the United States, China, and European countries is being recruited for more sophisticated jobs.
