Why Sri Lanka?
About Sri Lanka
The world is starting to recognize the value Sri Lanka can provide in ICT outsourcing services. More and more large corporations, as well as startups from around the world who are looking for profitable ways to handle their ICT operations, are outsourcing their IT services to Sri Lanka.
With a highly-skilled labour force, low labour costs, relaxed regulations, advantageous technical and geographical factors and a solid IT business ecosystem Sri Lanka is one of the top destinations in the region for offshore ICT services. The beautiful island with a rich history, culture, and heritage is now getting renowned for its capabilities as a reliable ICT offshore solution provider with a reputation for quality. This has even made big tech giants such as Microsoft, Intel, Accenture, Virtusa and RR Donnelley choose Sri Lanka as their IT offshore partner.
With better educational opportunities, Sri Lanka is gaining a highly-skilled workforce every year. The country’s high-quality ICT higher education programs have improved the workforce’s technical and soft skills giving them the capability to provide solutions to meet international standards. The country produces more than 20,000 ICT graduates annually, giving a solid foundation for a large talent pool.
Current ICT workforce in Sri Lanka is over 90,000 and is projected to grow up to 210,000 by the year 2022.
Moratuwa University, one of the leading universities under the government, is ranked on Google summer of code as the best Technical University of the country for the 9th consecutive years producing talents who are directly on UK qualifications.
Countries current 40% ICT literacy rate is projected to rise to 90% by 2022 with 30,000 plus annual Graduates.
Currently, there are 300 ICT based companies operating in Sri Lanka.
Excellent Business Environment
With government involvement and encouragement, Sri Lanka has a thriving ecosystem of IT companies. With the demand for Sri Lanka receives for offshore IT services and solution, more and more ICT companies are emerging, increasing the competition, which pushes companies to improve their services and service experience. For this company managements are continuously investing in the latest technology and human resource practices to improve their employee’s performance while delivering the best customer service. With the vast recognition around the world as a top ICT outsourcing destination, the industry continues to grow in the country, adopting best infrastructures and business practices.
The cost per worker in Sri Lanka is 30% lesser than the other offshore ICT destinations in South East Asia. Thus the wage appreciation of Sri Lanka is substantially low compared to the other regional outsourcing destinations with a precise wage ranging only 60$ to 1500$. Sri Lanka ranked on the A.T. Kearney ranking system as the 11th best outsourcing destinations in 2017 where the ranking is done considering the quality of the workforce, labour costs, and business environment and more. This makes Sri Lanka an excellent ICT outsourcing destination for both large enterprises and small start-ups.
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Sri Lanka's documented history spans 3,000 years, with evidence of prehistoric human settlements dating back at least 125,000 years. It has a rich cultural heritage, and the first known Buddhist writings of Sri Lanka, the Pāli Canon, date back to the Fourth Buddhist council in 29 BCE. Its geographic location and deep harbours made it of great strategic importance from the time of the ancient Silk Road through to the modern Maritime Silk Road. Its location as a major trading hub made it known to both the far East as well as the European continent from as far back as the Anuradhapura period.