Following the COVID-19 outbreak, there was a considerable increase in freelancing work. Because of societal and technological advancements, an increasing number of people are choosing to work remotely. The epidemic has had a significant impact on this change, bringing new working practices and establishing it as the new normal.
Surprisingly, the number of freelancers globally has topped 1.5 billion, making it a rapidly expanding business.The average hourly wage for freelancers globally is $21.One important point to note is that most freelancers have graduate degrees, and about the majority of them are under 35. Furthermore, the number of freelancers with a high school diploma or less has declined. According to the World Bank, self-employment accounts for about half of all workers globally.
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According to Payoneer’s 2019 research, Pakistan has emerged as a prominent player in the global freelancing market, ranking fourth among the top ten nations for freelancers. Furthermore, Pakistan’s freelancing industry rose by 48 percent between 2021 and 2022, earning $400 million for freelancers. Remittance inflows climbed by 2.74 percent, totaling $397.328 million in 2022. With an estimated 3 million freelancers by 2022, the business is likely to expand and contribute considerably to the country’s economy.
In Pakistan, there are numerous problems associated with freelance work. These include restricted Internet access and digital devices, which jeopardise freelance work security. Pakistani freelancers frequently operate on gadgets that lag in the global freelance market. Legal and regulatory difficulties include a lack of protection for rights, as well as confusing taxation and financial requirements. Investment in training programmes, greater technological access, and supportive legislative frameworks are required. It is advised that the government collaborate with private sector organisations to encourage and give resources for freelancing.
Many people rely on freelancing as their primary source of income, which helps the economy. Pakistan’s government might provide special quotas in various organisations for freelancers to foster the gig economy. The Pakistan Freelancers Academy, the Digital Pakistan project, and a specialised task force are all measures made by the government to encourage the freelancing industry.
These efforts give freelancers training, mentorship, and networking opportunities, as well as promotion of digitalization and digital services such as high-speed internet, e-commerce platforms, and payment systems. Tax breaks and reduced rates can help freelancers build their firms and support the industry even more.