Pakistan ranks 4th among world's fastest growing freelance market with 47pc growth

Pakistan has been ranked as 4th fastest growing freelance market with 47% growth in freelance earning during the second quarter as compared to the same period of last year.

According to the global payment platform Payoneer’s Global Gig Economy Index, published in Forbes, Pakistan was among the top freelance markets leaving behind regional countries including India, Bangladesh and Russia.

The report was based on a sample of the more than 300,000 freelancers in Payoneer''s network. 

According to the report, the US stood at top with 78 percent growth followed by UK at 59 percent, Brazil 48 percent, Pakistan 47 percent ,Ukraine 36 percent, India 29 percent, Bangladesh 27 percent, Russia 20 percent, and Serbia 19 percent growth.

The report observed that many freelancers in developing economies were young adults looking to get a foothold in a career.

Pakistan, where many freelancers are under age 30, is a good example, it added.

“In Pakistan, there is a younger generation seeking more opportunities,” said Eyal Moldovan, general manager of Payoneer. Payoneer''s research said that on a global level, the 35-44-year-old age group is doing the best at making money in freelancing. 

This group contributes 32 percent of earnings even though it represents only 23 percent of freelancers.

The youngest cohort of freelancers, those aged 18-34, made up 64 percent of freelancers but only earned 53 percent of total earnings, it added.

Those freelancers of 45-54 years age made up 9 percent of freelancers and brought in 9.4 percent of earnings, whereas those above 55 years made up 5 percent of freelancers and brought in 4.9 percent of earnings, the report revealed.

“In the past, it was the U.S.and U.K. outsourcing most of the work from developed to developing countries,” says Moldovan.

“Now we start to see Asia rising.  We see many countries in Asia outsourcing to other countries in Asia.

There is a changing of power among nations in the buying of goods and services.

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Comment by Riaz Haq on July 28, 2020 at 9:41pm

NayaPay partners with #Visa to fast-track #digital #payments in #Pakistan. NayaPay will use Visa Direct to simplify cross-border money transfers for freelancers & other Pakistan based businesses working with international clients, and overseas #remittances https://www.dawn.com/news/1571618

NayaPay has joined the Visa Fintech Fast Track program, speeding up the payment company’s integration process with Visa and enabling NayaPay to leverage the reach, capabilities, and security of the Visa global payments network.

Through the Fast Track program, NayaPay has access to Visa’s growing partner network, technology and resources to accelerate innovation in digital payments in Pakistan.

As an Electronic Money Institution (EMI), NayaPay will enable users to open E-Money accounts within a few minutes and make hassle-free digital payments to each other and to businesses.

NayaPay consumers and merchants can use their NayaPay Visa debit card to perform online and in-store transactions with millions of retailers worldwide as well as withdraw cash conveniently at any ATM location.

NayaPay customers can also scan Visa merchant QR codes to make payments directly through their app.

NayaPay will also be leveraging Visa Direct to simplify cross-border money transfers for freelancers and other Pakistan based businesses working with international clients, and households receiving remittances from their families abroad.

Users will be able to accept funds instantly and directly into their NayaPay wallets from over a billion Visa cards across the globe.

“We are committed to helping fintechs achieve their potential – enabling big ideas to flourish and supporting them through the reach, scale and security of the Visa network,” said Kamil Khan, Country Manager, Pakistan, Visa. “We have strategically evolved both our platforms and how we work with partners and customers to encourage a broadening of the fintech ecosystem globally and are excited by the opportunities and new use cases the NayaPay partnership will enable in Pakistan. Our work with NayaPay is a stepping stone in that evolution and we look forward to further supporting them on their journey.”

Danish Lakhani, CEO NayaPay, said: “We are delighted to have found a partner in Visa that shares our goals of making financial services simpler, more convenient and accessible to Pakistani users – the needs of whom have been overlooked for far too long. Over the past few months, we have been integrating Visa’s offerings to reinforce our issuing and acquiring capabilities and to deliver on our promise of becoming a part of citizens’ daily lives.”

“By joining Visa’s Fintech Fast Track program, exciting fintechs like NayaPay gain unprecedented access to Visa experts, technology, and resources,” said Otto Williams, Vice President, Strategic Partnerships, Fintech and Ventures, CEMEA at Visa. “The Visa Fintech Fast Track program lets us provide new resources that rapidly growing companies need to scale with efficiency. We’re delighted to welcome NayaPay into our program and look forward to working with them on their payment solutions that will transform financial inclusion in Pakistan.”

Comment by Riaz Haq on July 26, 2023 at 10:47am

The Philippines, India and Pakistan are the top three countries in terms of the number of workers being hired in the Asia-Pacific region, said a new report.

https://www.khaleejtimes.com/jobs/uae-jobs-indian-pakistani-filipin...


According to Deel’s State of Global Hiring Report released on Tuesday, Australia, Singapore, and India are the top three countries in the Asia-Pacific region where organisations were hiring last year. At the same time, Australia, Hong Kong and India were the fastest-growing countries for hiring new employees in the region.

In the UAE, Indian and Pakistani nationals account for the largest number of people among all expatriate communities. There are around 3.5 million Indian nationals, 1.7 million Pakistanis and 650,000 Filipinos employed in different public and private sectors nationwide.


The Deel study revealed that software engineering, sales and products were in the highest demand roles in Asia-Pacific.

In terms of salaries, Taiwan, Thailand, and South Korea saw the biggest average salary gains across all jobs.

Deel’s State of Global Hiring Report data is based on over 260,000 contracts and 15,000-plus customers across more than 160 countries, as well as over 500,000 data points from third-party sources, including Microverse. All countries, states, and cities in the report have at least 50 worker contracts on file as of December 2022.

Globally, hiring sustained its momentum throughout the year, as 89 per cent of all contracts were for remote roles. Many companies looked abroad to optimise talent costs.

Professor Samuel Dahan, chairman of Deel Lab for Global Employment, said average starting salaries for the role in content creation, operations and fiancé increased the most in the Philippines, India and Brazil.

While compensation rates also fell worldwide for new workers for the roles of accountants, customer support agents, consultants, designers and software engineers

Due to instability in the cryptocurrencies, Deel said, workers, lost some interest in receiving payments in cryptocurrencies.

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