the rise of asian freelancers - by dipesh garg (truelancer.com)
TRANSCRIPT
The Rise of Asian Freelancers
By Dipesh GargFounder, Truelancer.com
The Payoneer Forum - New Delhi
Why Freelancing?
The Payoneer Forum - New Delhi
The Payoneer Forum - New Delhi
Extent of Freelancing in Asia
34%
16%14%
13%
7%
9%
6%
How do Freelancers get Jobs?
ReferralsPortfolio WebsitesSocial Networking SitesOnline Job Boards/SitesPersonal/Professional BlogAdvertisements & Cold CallingContests & Other
The Payoneer Forum - New Delhi
Extent of Freelancing in Asia
Asia India$0
$5
$10
$15
$20
$25
$30
Average Hourly Rate
US India Rest of Asia$0
$50,000,000
$100,000,000
$150,000,000
$200,000,000
$250,000,000
$300,000,000
$350,000,000
0
200000
400000
600000
800000
1000000
1200000
Earnings No. of Freelancers
Tota
l Ear
ning
s in
USD
No.
of F
reel
ance
rs
The Payoneer Forum - New Delhi
Growth in terms of Avg. per Capita Income
1970 1975 1980 1985 1990 1995 2000 2005 2010 20150
5000
10000
15000
20000
25000
30000
35000
40000
45000
India Asia United States
Avg.
per
Cap
ita In
com
e in
USD
The Payoneer Forum - New Delhi
What to expect in Coming years?
1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020 2025 2030 2035 2040 2045 2050 2055 20600
10000
20000
30000
40000
50000
60000
70000
India Asia United States
Avg.
per
capi
ta In
com
e in
USD
The Payoneer Forum - New Delhi
The Payoneer Forum - New Delhi
Future Plans of Freelancers
24%
38%
30%
8%
"Always solo Freelance"
"Open a Small business"
"Generate income from other solo works"
"Return to Full time employment"
The Payoneer Forum - New Delhi
The Payoneer Forum - New Delhi
What do these stats predict?
In next 5 years, India and other parts of Asia will be ruled by Small Businesses driven by Freelancers and not giants like Infosys.
Asia will grab more than 65% market share in the $15B Freelance market with India leading at 45% share alone.
The Payoneer Forum - New Delhi
The Payoneer Forum - New Delhi
Challenges faced by Asian Freelancers
• Language Barrier
Freelancers from countries like China, Indonesia and Russia face problems communicating with English users.
Asia has the highest number of English using people with over 250 Million users in India, Pakistan and Philippines alone.
But the sweet part is…
The Payoneer Forum - New Delhi
Challenges faced by Asian Freelancers
• Currency Exchange and Marketplace Fees
Direct Transfer to Indian Bank A/C. (Save Paypal fee) Indian Freelancers transact in INR so no Market Risks of Currency Rate
fluctuations in Long term projects.
Higher Commission rates/Fees of major Freelance Jobs Marketplace.
At Truelancer we charge as low as 3% commission which is also the lowest in the Industry.
Low currency conversion Rates by Major payment players like Paypal.
The Payoneer Forum - New Delhi
Challenges faced by Asian Freelancers
40% Freelancers report having trouble getting paid the wages they’re owed.
80% of them were paid Late.
Avg. No. of Days their payment was delayed?
52 DAYS
The Payoneer Forum - New Delhi
What Next ?
• Build Online Reputation.
• Become Flexible & form Virtual Teams online.
• Collaborate and work as partners.
• Focus on Brand Building, It goes long way.
The Payoneer Forum - New Delhi
@Truelancer
• Join now & Start early.
• Post Services and Sell 24x7.
• Invite your Network & Build Reputation.
• Deliver work & Get Paid.
• We secure your Work & Payment
Get started at www.truelancer.com
The Payoneer Forum - New Delhi
Thank You
Get started at www.truelancer.com
Reach me @[email protected]
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