Pakistan was classified as the fourth fastest-growing freelance market in the world in the second quarter, with a 47 percent increase in freelance earnings compared to the same period the previous year.
Payoneer’s network has over 700,000 freelancers, hence the report was based on a sample of them.
Pakistan was ranked among the top freelance markets in Forbes’ Global Gig Economy Index, which included regional countries such as India, Bangladesh, and Russia.
According to the survey, the United States had the highest growth rate at 78 percent, followed by the United Kingdom at 59 percent, Brazil at 48 percent, Pakistan at 47 percent, Ukraine at 36 percent, India at 29 percent, Bangladesh at 27 percent, Russia at 20 percent, and Serbia at 19 percent.
Many freelancers in developing nations, according to the survey, are young people trying to break into the workforce.
Pakistan is a good example, with many freelancers under the age of 30.
Payoneer’s general manager, Eyal Moldovan, said, “In Pakistan, there is a younger generation seeking more opportunities.”
According to Payoneer’s data, the 35-44-year-old age bracket is the most successful at freelancing around the world.
Despite the fact that this category only accounts for 23% of freelancers, it generates 32% of earnings.
According to the report, the youngest group of freelancers, those aged 18 to 34, accounted for 64% of all freelancers but only earned 53% of total profits.
The survey indicated that freelancers aged 45 to 54 years old accounted for 9% of all freelancers and earned 9.4% of all earnings, while those aged 55 and up accounted for 5% of all freelancers and earned 4.9 percent of all earnings.
“In the past, most of the work from developed to underdeveloped countries was outsourced by the United States and the United Kingdom,” Moldovan explains.
“Asia is gaining traction now. Many Asian countries outsource their work to other Asian countries.
In the purchase of goods and services, there occurs a shift in power between nations.
