While Sri Lanka is renowned as the paradise island for its culture, panoramic landscape, leisure and excursion related activities and cuisine, Colombo's impressive skyline also personifies the country's rapid development. In time, Sri Lanka will be renowned for yet another exciting, prominent feature as Asia's favorite ICT Centre of Excellence.
Information and Communication Technology (ICT) continues to shrink the world. As major players are facing increasing difficulties in coping with the global demand, Sri Lanka is emerging as a world's ICT destination of choice. The island is steadily transforming itself into the most preferred ICT hub in Asia thanks to the availability of the most precious resource in the world - talent. It has also become the 4th largest export earner of the country.
The Sri Lankan ICT sector serves a number of Industry verticals with over 300 companies at present. These include Communication, Apparel and Textiles, Banking Financial Services & Insurance (BFSI), Healthcare, Manufacturing, Media, Retailing, Transportation, Travel and Leisure and many more. Sri Lanka's success in ICT exports are chartered through an impressive upward trend in annual figure. The export revenue of this sector grew from US$ 166 million in 2006 to reach US$ 968 million in 2017 with a workforce of over 85,000. With over 90% value addition and high paying jobs, has made a significant impact on the growth of the Sri Lankan Economy.
Sri Lankan ICT companies exporting Software products and services to regions such as North America, EU, Australia, East Asia, Middle East, Africa and Nordic region. Their core competencies include automated application testing, infrastructure outsourcing, high-end R & D, Enterprise Resource Planning (ERP), Cloud Technology, Mobile Applications and many other Business Solutions. Sri Lanka also acts as an offshore development centre for several fortune 500 companies from USA, Ireland, UK, Australasia, Sweden and joint venture development companies from Sweden, Norway, USA, Japan, etc. Sri Lanka facilitates 100% foreign investments and safety of foreign investments is guaranteed by the constitution.
The sector with Professionals, highly skilled and highly Productive and extremely competitive. Also the country has a multi-lingual & multi-cultural society who understands western cultures with little or no effort. The country has No Political risks or risks of terrorism.
The industry’s Vision 2022 aims it to become the number one foreign exchange earner of the country, with US$ 5 billion in revenue, creating 200,000 direct jobs and 1,000 start-ups.