June 7, 2023


Moving Forward

Rising Cost of Living Is Driving Collaborative Growth Opportunities for SMBs and Freelancers, Survey Shows

New study from Payoneer demonstrates pretty much 50 percent (46%) of surveyed freelancers close to the environment have viewed an enhance in demand from customers for their function from world-wide corporations compared to 2021 and above half (55%) have taken on far more function in response to the rising fees of living.

NEW YORK, March 21, 2023–(Business enterprise WIRE)–Payoneer (NASDAQ: PAYO), the financial know-how company empowering the world’s smaller firms to transact, do enterprise and expand globally, has today released results from its 2023 Freelancer Insights Report.

The fifth version of Payoneer’s annual report has responses from above 2,000 freelancers across 122 nations around the world, detailing the ongoing rise in desire for their services as corporations proceed to outsource expert services to cut expenditures.

The Covid-19 pandemic accelerated the freelance revolution with folks seeking to seize the flexibility and chances in the new planet of global electronic commerce and little organizations increasingly searching to employ their solutions. Payoneer’s once-a-year freelancer study is a temperature look at of the world wide freelancer economy and the organizations that employ the service of them, on the lookout at areas this kind of as demand for services, sector progress, reaction to macroeconomic pressures and wellbeing.

The study reveals that demand from customers for freelance get the job done continues to development up, continuing the craze that was seen at the start of the pandemic. Inspite of the fears of a international financial slowdown, respondents are seeing an growing demand from customers from electronic organizations looking to augment teams as they increase across borders.

The crucial conclusions from the 2023 Freelancer Insights Report contain:

  • Virtually 50 percent (46%) of the surveyed freelancers all around the earth report that they have witnessed an raise in demand for their get the job done from the world-wide firms that hire them in contrast to 2021.

  • Above 50 % (55%) also report that they have taken on much more get the job done in response to the rising charges of residing in comparison to 2021. Freelancers are having action, with 41% raising their rates and 32% increasing to new geographies.

  • 73% of respondents recognized obtaining new clients as their most significant challenge.

  • The fields of programming, marketing and advertising, venture management, and world wide web style noticed the most sizeable will increase in need about the past year.

  • The gender shell out gap is narrower in freelance get the job done, but men are nonetheless a lot more most likely to charge higher fees. Gals are 8% fewer possible to maximize their costs and men’s premiums grow speedier about time than these by female freelancers. The average hourly amount for feminine freelancers is $22 when compared to $24 for males.

Adam Cohen, Chief Expansion Officer at Payoneer, commented on the conclusions:

“We are dwelling as a result of a digital commerce revolution and the international freelancer overall economy is obviously an integral section of that. These survey benefits show that there are huge alternatives for SMBs all over the world to faucet into what is now a truly borderless workforce. The continued expansion throughout SMBs and freelancers has a mutually good effect as they open doors of possibility for just one another and we count on to go on to see them prosper in a digital-initially ecosystem. A competitive market place might suggest that some freelancers are having difficulties to discover the ideal perform but the alternatives in the market keep on being accessible to them and they continue to clearly show resilience in the experience of sizeable financial pressures.

“We are happy to be playing our position in facilitating their achievement in the world-wide digital commerce process and search towards the future with optimism for SMBs and freelancers alike.”

Payoneer’s whole report can be located here: 2023 Freelancer Insights Report

About the analysis

The fifth version of Payoneer’s Freelancer Insights Report is a compilation of responses from in excess of 2,000 freelancers throughout 122 nations around the world, all of whom are Payoneer customers. As soon as again, the survey highlights how extremely resilient the freelancing business can be in the face of new issues, giving appealing insights into how SMBs can leverage this crucial useful resource in the calendar year ahead.

About Payoneer

Payoneer is the monetary engineering organization empowering the world’s little corporations to transact, do business and mature globally. Payoneer was started in 2005 with the perception that expertise is similarly distributed, but option is not. It is our mission to enable everyone any place to take part and do well in the world wide electronic overall economy. Given that our founding, we have designed a international financial platform that has presently manufactured it much easier for millions of SMBs, significantly in emerging marketplaces, to shell out and get paid, regulate their resources, and develop their business enterprise.

Ahead-Wanting Statements

This push launch consists of, and oral statements manufactured from time to time by representatives of Payoneer, may perhaps be regarded “ahead-wanting statements” inside the that means of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Ahead-looking statements commonly relate to long run functions or Payoneer’s potential economic or functioning functionality. For case in point, projections of future quantity, revenue, transaction expense and adjusted EBITDA are forward-hunting statements. In some circumstances, you can identify ahead-hunting statements by terminology these as “could,” “really should,” “count on,” “intend,” “program,” “will,” “estimate,” “foresee,” “feel,” “forecast,” “possible” or “carry on,” or the negatives of these terms or variants of them or similar terminology. These types of forward-seeking statements are subject to pitfalls, uncertainties, and other aspects which could induce actual final results to vary materially from those expressed or implied by this sort of forward on the lookout statements. These forward-on the lookout statements are based on estimates and assumptions that, although regarded sensible by Payoneer and its management, as the case may perhaps be, are inherently uncertain. Components that could cause true effects to vary materially from recent expectations contain, but are not limited to: (1) variations in applicable guidelines or regulations (2) the risk that Payoneer may perhaps be adversely impacted by geopolitical and other economic, small business and/or aggressive variables (3) Payoneer’s estimates of its economical efficiency (4) the end result of any lawful proceedings and (5) other hazards and uncertainties set forth in Payoneer’s Yearly Report on Sort 10-K for the time period ended December 31, 2022 and foreseeable future reports that Payoneer may well file with the SEC from time to time. Almost nothing in this press launch ought to be regarded as a representation by any individual that the ahead-seeking statements set forth herein will be attained or that any of the contemplated effects of these types of ahead-hunting statements will be achieved. You should not position undue reliance on forward-wanting statements, which speak only as of the date they are produced. Payoneer does not undertake any duty to update these forward-wanting statements.

Look at resource version on businesswire.com: https://www.businesswire.com/news/property/20230321005195/en/


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