Lack of policy, PayPal access hampers freelance growth
Reza Mahmud :
Despite enormous potential to generate foreign currency through freelancing, Bangladesh has yet to fully tap into this growing global sector, experts have said.
They believe that freelancing could spark a major transformation in the national economy, particularly by creating employment opportunities for the country’s large pool of educated but unemployed youth.
According to industry sources, nearly one million Bangladeshi freelancers are currently earning an estimated Tk 12,000 crore annually.
However, experts note that the majority of these freelancers are active in just four key areas – graphic design, digital marketing, web development, and content writing – while over 1,000 other potential sectors remain largely unexplored.
“Bangladeshi freelancers are engaged in 253 online marketplaces, yet we are only scratching the surface,” one industry analyst said.
“Opportunities exist in diverse fields such as accounting, biotechnology, medical services, app and game testing, and legal consulting, which remain virtually untapped.”
estimated Tk 12,000 crore annually. However, experts note that the majority of these freelancers are active in just four key areas – graphic design, digital marketing, web development, and content writing – while over 1,000 other potential sectors remain largely unexplored.
“Bangladeshi freelancers are engaged in 253 online marketplaces, yet we are only scratching the surface,” one industry analyst said.
“Opportunities exist in diverse fields such as accounting, biotechnology, medical services, app and game testing, and legal consulting, which remain virtually untapped.”
Stakeholders attribute the underperformance of the freelancing sector to inadequate government policy support.
They are urging the government to include freelancing as a subject in higher education curriculums and to roll out formal training programmes, particularly in emerging technologies like artificial intelligence (AI).
“Each year, between 100,000 and 200,000 people enter the freelancing workforce, but a similar number leave the sector during the same period,” said one expert.
“Many drop out due to a lack of technological adaptability, especially in areas like AI, which is now essential to staying competitive.”
The absence of trusted international payment services like PayPal is another key barrier, they said. As PayPal does not currently operate in Bangladesh, freelancers often struggle to repatriate their earnings from overseas, especially from the US market, which hosts many of the leading platforms.
“There is no reliable mentorship or institutional support system for newcomers, which adds to the challenges,” they added.
Dr Tanziba Rahman, President of the Bangladesh Freelancer Association, told The New Nation on Saturday, “The government should integrate freelancing into our educational curriculum to unlock massive economic potential.”
She also stressed the need for dedicated government training initiatives in freelancing and AI technologies.
Russell T Ahmed, former President of the Bangladesh Association of Software and Information Services (BASIS), echoed this view, saying, “The introduction of PayPal is crucial for boosting the freelancing sector.
There’s tremendous untapped potential for earning foreign exchange, and it’s high time authorities paid serious attention.”
One such success story is Mahir Abdullah from Chattogram, who turned to freelancing in 2022 after struggling with unemployment.
Today, he earns approximately $500 a month through graphic design – a significant income for many young professionals in the country.
Like Mahir, thousands of others are earning from home, contributing billions of taka to the national economy.
Many have become financially independent, purchasing homes and cars and even creating employment for others. Over the past decade, this silent economic revolution has helped reduce unemployment and stimulated growth.
According to Bangladesh Bank, around $500 million (approximately Tk 6,150 crore) enters the country annually through official banking channels from freelancing.
Industry professionals estimate the total annual earnings from freelancing to be closer to $1 billion, given that many transactions take place through informal channels.
The global freelancing market is currently valued at $1.8 trillion, suggesting enormous room for growth.
Mohammad Arifur Rahman Khan, Executive Director and Spokesperson of Bangladesh Bank, told The New Nation, “Freelancers are making a significant contribution to our economy. We are actively working to make it easier for them to receive payments from abroad.”
He added that the central bank is collaborating with several international payment service providers to streamline the process.
Experts believe that if the identified challenges – policy gaps, lack of training, payment issues, and inadequate infrastructure – are addressed, Bangladesh’s freelancing sector could emerge as a powerhouse for foreign exchange earnings and economic development.