Pakistan has thrieving digital technology potential, which can highly contribute in the country’s economic strength.
Digital transformation can help Pakistan unlock up to Rs. 9.7 trillion ($59.7 billion) in annual economic value by 2030, equivalent to about 19 percent of the country’s GDP in 2020, according to a new report commissioned by Google.
The report—released at the Google/[email protected] online event, “Unlocking Pakistan’s Digital Potential”—finds that Pakistan has a thriving technology sector. The country is home to more than 300,000 IT professionals, produces over 25,000 IT graduates annually, and has nurtured over 700 tech start-ups since 2010.
Technology exports have grown 15 percent per year since 2020 and are expected to reach $3.5 billion in 2022. Pakistan’s online population has grown rapidly, and the internet penetration rate is reaching 54 percent in 2021.
Despite these many achievements, Pakistan can go further in its digital transformation journey. The report, prepared by economists at AlphaBeta, identifies three main pillars of action Pakistan could take to reach the projected growth opportunity. This includes developing infrastructure to support the local tech ecosystem, continuing to create a conducive environment for IT export, and promoting innovation and digital skills in the country.