Think with Google is an informative platform where experts analyze subjects and topics related to digitalization, digital branding, e-commerce & social media. Lars Anthonisen, the Head of Google’s Large Customer Marketing, South Asia sector, wrote about five major points that make Pakistan a great place to invest when it comes to technology. The Google Official termed Pakistan, a quick developing “digital-first country”, and added that it will reward all investments greatly, making it the best place for investment. The investments in Pakistan will be beneficial for investors from all corners of the globe.
Lars Anthonisen wrote that:
Pakistan is on the progressive path to create a market of one of the biggest digital audience in the world and this is why it is now a hot market for all investors.
Here are the five reasons he pointed out for Pakistan being a hot investment venture.
1. Rapidly Booming Population
Pakistan has a rapidly growing population with presently over 202 million people. Soon Pakistan is expected to rank 5th when it comes to the largest population in the world. This rapidly booming population increases the demand for more goods and services. The more the population increases, the more the number of potential customers and consumers increase. Apart from this Pakistan has a high urban population with almost 40% living in the cities, making a bigger percentage of population living in urban cities as compared to India.
2. Fast Growing Economy Makes Pakistan The Best Place For Investment
Pakistan is blessed with many small and medium-sized enterprises aka SMEs. Over 90 percent of the businesses in Pakistan are small and medium-sized enterprises (SMEs). SMEs contribute 40% on average to Pakistan’s GDP. With the development taking place rapidly, there are chances of Pakistan becoming the 4th fastest growing economy across the globe very soon, and by soon mean by the end of the year 2030. As the economy booms, the returns on investment multiplies too and this makes Pakistan the best place for investment.
3. Steady Increase In Smartphone Users
Pakistan has always had a strong front when it comes to technology. Anthonisen wrote that since Pakistan has a considerable population that uses the internet, not only are smartphones cheaper, but the data packages are also very reasonable. Approximately 59 million Pakistani’s are avid smartphone users. 83% of those prefer Android devices.
4. High Rate Of Internet Penetration
Internet penetration stands at 22% in Pakistan. This clearly shows that digital consumption is on the rise. Presently, Pakistan has 4.46 million internet users and the numbers are growing steadily. Lars Anthonisen gives the example of how YouTube consumption has upped considerably, showing upward trajectory and this makes Pakistan the best place for investment.
5. Heavy Investments From China In The Light Of CPEC
After the signing of CPEC (China-Pakistan Economic Corridor), Pakistan has developed a lot due to the influx of investment in technology, development, training of human resource, management of natural resources, transportation, and communication. Under the umbrella of CPEC, an 820 km fiber optic cable was laid down to strengthen and increase Pakistan’s digital connection with the rest of the world. CPEC has made Pakistan one of the greatest international investment ground for China, and this is a goldmine for other countries to invest due to this very reason.
Anthonisen recommends businesses, investors and foreign companies to “leave a mark” on Pakistan’s emergent online market and economy and to grab the “endless opportunities that it can offer to investors.”