Pakistan has been attracting a lot of interest lately from foreign investors. The reason being that Pakistan is an economy which is powered by small and medium sized enterprises, yet has a large population which uses mobile phones. Furthermore the country is also prepared to be one of the largest digital audiences in the world. Here are 5 reasons why what we are saying will soon become a reality.
- Pakistan is soon to have the fifth largest population in the globe
As of right now Pakistan has a population of more than 202 million people, which means that there are a lot of potential consumers on the Internet day in and day out and in terms of Urbanization of a country, Pakistan is more urbanized than its neighbor India ( where already many foreign investors have established companies due to the lack of cost on labor)
- Entrepreneurship plays a leading role in the growth of a fast-growing economy.
As is stands the GDP for Pakistan is $1,641 per capita and by 2030 if all goes well Pakistan will be the fourth largest economy in the .globe which will be made possible thanks to the SME’s(small and medium size Enterprise) and it is estimated that about 90% of the companies in Pakistan by that tine will comprise of SME’s. Finally these small companies altogether will contribute about 40% to the country $305 billion GDP
- Because of the smartphone users in Pakistan, digital consumption grows rapidly
Currently about 59 million people use smartphones in Pakistan out of which more than 83% are android users. This number is also set to increase with the passage of time due to the fact that with increaser competition in the market the prices of such phones are set to decrease. Furthermore Pakistan also offers the lowest rates when it comes to data prices which in turn helps in increasing the app usage. YouTube is one of the apps which benefits the most out of this and is the most used app in terms of data consumption in the whole world.
- Pakistan’s Internet penetration is growing rapidly.
As it stands Pakistan’s overall penetration is 22% with an estimate of about 44.6 million users domestically. In spite of this the digital consumers, consume enough data which helps the country grow rapidly. YouTube for example has seen a growth of 60% over the years when it comes to watch time.
- Finally China plays a leading role in Pakistan’s development
The China-Pakistan corridor(CPEC) has opened a lot of doors for the economy of Pakistan. It is currently the largest Chinese investment in a foreign country which is valued at about $62 Billion. One of the first projects handled in the leadership of the CPEC was the foundation of laying 820 kilometers of fiber-optic cable which in turn helped a lot of people get access to the Internet. It is a big addition to the investments placed for the 3G and 4G services as network expansions took place by China mobile. Moreover the China mobile has also expressed desires to invest another $225 million in the 4G expansion bringing the total investment cost at about $2.4 Billion.
So it is concluded that Pakistan is set to make an impact on the global economy. As interest in the country increases , the investment in infrastructure will minimize the barriers to the access of the Internet and exclusive data speeds which will help attract more and more people in to the world of digital space presenting your brand with infinite opportunities to help your Enterprise prosper.