Freelancing and its effects on the international world economy

Freelancing is a work from the home skilled profession. It is such a world-recognized profession that we cannot deny freelancing and its effects on the world’s economy.  A freelancer can earn his daily wages more than a company employee. Freelancer has different skills and qualities. A person who has experience in anything such as writing, graphics, or online business. He or she can easily persuade their career as a freelancer. Freelancing is an opportunity for people to earn more and enhance their skills and experiences.

A freelancer has to work from home. It’s an easy way for someone to earn his living. As at home a person has a friendly environment and works with no stress. Freelancers can work on two or three projects at the same time. This increases his income and also values his career by the enhanced experience.

Most foreign countries train their people to become good freelancers and enjoy all the facilities that a good freelancer has. In developed countries, freelancing is a big source of income for many people and it also strengthens their economy.

Freelancing and its effects on the world’s economy:

According to the Freelance Union, freelancers are contributing more than $700 billion if productivity to our Economy. Freelancers are skillful entities that work independently on different projects for their organizations. Freelancers are those people who will work for whoever pays them the best amount such as a big one.

It’s really popular to work in creative sectors such as designs, writing, and business but it got more popularity in 2008 when independent working increased. This trend became famous because of its necessity. Many people did not know this but gradually people began to take interest in this field as well.

Gig economy:

At that exact time, the gig economy got emerged but keep in mind that the Gig economy is different from the freelance economy. Because Freelancers will work with a client for a specific period of time but gigsters complete their tasks in a very short piece of time.

• How much part of the economy is earned via freelancing:
• At the start of the year, there are annual reports of the economy.

The freelancing and its effects on the economy in Pakistan:

In Pakistan, the number of Freelancers is increasing rapidly as many people are willing to work independently and enhance their experiences. Because in Pakistan people usually don’t trust the government and have very little faith in the government sector. That is why people go for private means as private sectors are flourishing gradually.

The consumption prices rise from 2.6% to 4.1% according to the CIA World Factbook due to this reason people are going for independent work. This has forced many people to take freelancing as their field and for the bright future of their career. Freelancing is not just for the educated females or males. Many people have set-up their online stores to sell their creations and others as well. In addition to this women are also working for many beauty products. It is an important and worthwhile field where women can work regardless of their qualifications and literacy.

Most of the third world countries contribution to this cheap labor. Because people usually do not have any source of income. Pakistanis also offer many freelancing services such as designing, writing, and much more, and mostly women contribute to most of the organizations.

Fiverr and Upwork:

Besides all those companies who offer work to the employees, Fiverr and Upwork are the two famous platforms for the people to meet the real any worthy clients. Once there is a good relationship between the client and the freelancer, there is a good source of income. Hence freelancing promises mutual benefits for both the clients and the companies.

As it is said;

“If you dig deep and keep peeling the onion, artists and freelance writers are the leaders in society- the people who start to get the new ideas out”

-Allan Savory

The freelancing economy in the US:

The freelancing economy has been increased in the US for the past few years. 53 to 57 million people freelanced in America during the past six to seven years. Therefore, freelancing is becoming a major part of the economy of the US. Freelancing surveys in America report that most of the professionals want to work independently. Freelancing gives everyone a chance and a great opportunity to run their own business and set their leading career.

The freelancing economy is thriving and can cause many changes to affect the business. Some changes and important features are discussed below:

1) More than just creatives:

Freelance work has traditionally been thought of as designs, writing and etc. But this has to be different and appears to be changing. Many people are gaining ground in the freelancing world. It is believed that soon the professions for freelancing will be changed and many new changes will occur. This will have a magnificent effect on the business and will pave new ways for others. The Internet is appreciated as we have access to everything in the world through it.

2) More niche platforms:

When these online platforms started, they were not known much but gradually these started evolving and now many people have access to Fiverr and Upwork that definitely support the economies of different countries. This trend will evolve more in the coming years. Another example of an online platform includes Paro which is a marketplace that matches Freelance finance plans with the business. With the increase of Freelance work and the workers, the demand for these niche platforms has been increased. And with the increase in this niche, the economy of different countries will surely boost.

3) Fast International expansion:

As in the US, freelancing is affecting the economy all over the world. Except for Asian countries, we will see many others evolve in this field very soon. In UAE, freelancing has attracted many professionals as many of the companies do not hire traditional employees and go for the best freelancers.

Hence, this all shows that the freelancing economy has never come down. This is profitable and helping to boost the economy of almost every country. As the world is evolving so this is the best time for both the clients and companies to get evolved in this business for the sake of success and good income.