With prices doubling and incomes barely increasing, picking up freelance projects has been a way to secure extra cash, in addition to a steady job. But whether it is due to the flexible working hours, being one’s own boss, or the cash inflow, more and more people in Egypt and around the world are opting to become full-time freelancers. As it stands, the informal economy has reached about LE 1.6 trillion, contributing some 40 percent of the gross domestic product (GDP), according to official figures, and has been increasing over the past few years.
Although freelance work doesn’t necessarily fall under the informal economy, it often does as it goes undocumented or accounted for. The global figures point toward a move away from 9-5 jobs and toward more flexible hours and work conditions. Forbes’ Jeff Wald, co-founder and president of a leading platform for the management of contract and freelance talent, expects around 35 percent of the workforce to become freelancers and independent contractors by 2020.
Read the full article here.