Brief Overview about Bangladesh
Bangladesh is a moderate, secular, and democratic country with a population of 160 million making it the seventh most populous country in the world (larger than Russia). It is a big potential market for the garments sector followed by the upcoming growth in Outsourcing Industry.
This presents a sizeable opportunity for organisations seeking to expand their global footprint and further establish a presence in the South Asia region. Steadily building its economic strength and is now emerging as an attractive frontier growth market in South Asia.
We Vision to graduate to a Middle Income Country by 2021 Becoming a Developed Country by 2041 having 57% of the population under 25 years.
The GDP is 7.30% as of 2017 and the Per Capita Income is USD 1,677 as per June 2018
Our Infrastructure
Bangladesh offers a profitable location
Global Business Process Outsourcing (BPO)
The global BPO & IT services market was worth approximately $952 billion in 2014 out of which IT Services was 68% at $648 billion and BPO was 32% at $304 billion.
Finance & Accounting Outsourcing (FAO) market is expected to grow to at least 4.5% of the total pie in 2015 due to enhanced interest in this sector as discussed in details below, $25 billion that was spent on FAO in 2014 up from $23 billion in 2013 which is expected to cross $27 billion in 2015 growing at a CAGR of 7.32%.
As per publicly available information and forecasts the FAO market is expected to grow at an Annual Growth Rate of 8%
Prospect of Bangladesh in the Finance & Accounting Outsourcing (FAO)
Bangladesh is fast becoming an attractive outsourcing destination as global clients are increasingly looking to diversify their sourcing portfolio. Bangladesh has already made its mark in the global outsourcing market for its cost effectiveness, commitment, and most importantly its professionalism which are the most potential resources to offshore.
The numbers of chartered accounting professionals in Bangladesh are increasing and more and more students are joining the chartered accounting profession due to its attractive future. So this is an important measurement for global firm to offshore their accounting activities to understand how good we will perform the accounting tasks