Africa & Middle East

Outsourcing vibrant in MENA region

The outsourcing industry in the Middle East and North Africa (MENA) region is expected to grow at a compound annual growth rate (CAGR) of approximately 8% for the period 2009-2016 with market revenues touching US$2.69 billion, a recent study said.

The emergence of the MENA region as an ideal offshoring location for companies in both Europe and Asia is the key factor driving the industry's growth.

The outsourcing industry is embarking on a growth path with global revenues projected to touch US$479.3 billion by 2016 from US$370 billion at present, according to a report issued by Dubai Outsource Zone (DOZ) in collaboration with global business research and consulting firm Frost & Sullivan.

The report has further revealed that the global outsourcing markets will register a compound annual growth rate (CAGR) of 8.35%, while MENA region is expected to witness a CAGR of 8% during the forecast period (2009-2016). The UAE outsourcing market will record a CAGR of 10% during the same period, it points out.

Titled “Outsourcing Opportunities in the MENA Region”, the release of the report marks the fourth anniversary for Dubai Outsource Zone.

Malek Al Malek, Managing Director of Dubai Internet City and Dubai Outsource Zone, said: “As DOZ celebrates its fourth anniversary, the growth witnessed by the cluster in such a short time signifies the role it has played in developing the emirate’s outsource industry.

“DOZ offers a blend of benefits including state-of-the-art infrastructure, hi-tech and latest telecommunication experience. It also offers a better lifestyle, reducing workforce attrition and a multicultural personnel base. DOZ sees the bigger markets such as India and China as an option to complement an organisation’s BPO in markets around the world.”