IT & IT Enabled Services
Sri Lanka has gained a reputation for providing the best value-for-money ICT talent in Asia. The Island is one of the best destinations for providing off-shore services for Information Technology Enabled Service (ITEs) as well as services related to Finance and Accounting, Legal, Insurance, Banking and Telecommunications.
The value-for-money factor is derived through a high quality talent pool, which is especially attractive to Small and Medium Enterprises (SMEs) who are unable to afford the premiums charged by the larger Indian ICT Industry. The Sri Lankan IT workforce has displayed a lower upward wage pressure than many established global sourcing destinations. A recent World Bank study revealed that the country’s labor costs ranked the lowest in comparison to many other outsourcing destinations where the total cost per associate is as much as 30% lower in many cases. Being one of the key growth drivers within services exports, earnings from the sector have grown almost 8% YoY