India has the second largest population of freelance workers in the world. Depending upon which figures to refer, India is home to between 22 million to 25 million freelancers in almost every profession and vocation. And projections are, this number is expected to grow to about 30 million by the year 2025- or about five years from now.
And there’re very strong reasons for this growth too.
Reasons for Growth of Freelancing in India
You might wonder why the number of freelancers in India is growing. And rightly so. Because traditionally, most educated Indians look for stable jobs that provides a monthly income and other perks as well as opportunities to create a career.
Therefore, I’ll provide the main points why freelancing is gaining ground rather rapidly in India.
- Freelancers in India earn a median income of Rs.2 million and above per year. This
works to whopping Rs.166,666 on average, per month. And this income is something that most regular jobs won’t fetch you.
- Flexible working hours are the greatest attraction among freelancers in India. That’s because Indian people have close family and social ties and spend a lot of quality time on these vital elements of life. Working on flexible hours helps them lead a happier family and social life.
- Commutes in India can be painfully long. For example, an officegoer in Mumbai spends average four hours to commute between home and office, often using crowded and uncomfortable public transport systems. Those who drive or ride a vehicle to work usually face severe traffic snarls. And of course, high gasoline expenses.
- Large Indian and foreign companies no longer hire people for specific skills. Instead, they outsource these tasks from freelancers on a project basis. This helps companies select from a very vast pool of talent that prevails in India while keeping the payroll shorter and dispensing with the need to invest on renting or buying office spaces.
- India is the seventh largest country in the world, in terms of land mass. Therefore, any small or large business faces immense problems when expanding operations to various states and newer territories. Therefore, they enter these markets with the help of local freelancers. This helps the company to gauge the market and adapt products or services depending upon feedback from a freelancer and consumers.
What This Means
Given these facts, it’s obvious that freelancing in India is not just here to stay. But it’s indeed going to flourish in every way. Expanding Internet connectivity is also one of the major factors that will lead to boom in India’s freelancing market.
This brings us to another extremely vital questions? What are the top, high demand freelancing skills in 2020 and beyond? What do you require to become a successful freelancer in 2020 and beyond?
Here’re my answers.
Top, High Demand Freelance Skills for 2020
I’m providing a curated list of top, high demand freelancing skills that can help you earn very lucrative income, either fulltime of part-time.
I rank digital marketing as the topmost freelance skill for the year 2020 and beyond. And there’re very strong reasons for my choice. Global research and advisory company, PricewaterhouseCoopers estimates, India will require at least two million digital marketing professionals to drive the country’s ecommerce industry and related sectors, by 2022.
However, estimates from various core sectors of India such as Banking, Financial Services and Insurance (BFSI), healthcare and hospitality, Fast Moving Consumer Goods (FMCG) and others combined, there would definitely be a need for at least five million digital marketing professionals by the year 2022.
Digital marketing opens your doors to as many as six different careers. And digital marketing is a collection of various processes. If you complete a digital marketing course from an excellent academy and excel at internship, it’s possible to earn a lot of money as freelancer. Micro, Small and Medium Scale Industries that require online presence and would look for your services.
Globally, the online tutoring industry will be worth more than US$114 billion by 2023 or about three years from now. Online tutoring basically involves teaching a single student, a group of learners of even an entire classroom using Internet-based resources such as video conferencing. Online tutoring is generally a mix of live and interactive sessions as well as recorded videos, written content and audio files.
Unfortunately, not many Indians are aware they can earn millions of Dollars. However, if you know how to teach a subject or some skill that helps people, online tutoring would be one of the top, high demand freelancing skills for 2020.
You would definitely ask what kind of lessons or subjects do you need to teach online? Actually, there’re no limits. You could become a freelance online tutor for any Primary school subject, English or other languages, math, science or even complex medical and engineering topics. And if you don’t have these skills, simply use your passion or hobby such as cooking or photography to train people online. You’ll find takers for all kinds of online courses.
And finally, the best and top, high demand freelancing skill for 2020 remains Financial Consultancy. Why’s that? Because India has the highest population of millennials in the world, at over 40 percent of total number of people in this country. And most of them are well qualified or earn very high income. However, they’re unaware about what to do with the surplus money that remains after meeting expenses. On the other hand, some go on spending binges.
That’s exactly where the freelance skill of financial consultant comes handy. Unlike yesteryears where people had to depend upon postal savings schemes and falsely believed that life insurance is an investment, today’s millennials are more aware of investment plans that offer highest returns. And they are willing to hire freelance financial consultants for guidance.
Freelance financial consultants make money in several ways. Firstly, the charge a fee or retainer for their service. And secondly, they get a commission from banks and Non-Banking Financial Companies (NBFCs) for any investment product their clients subscribe or buy. Thirdly, a lot of financial institutions also offer them a small retainer to promote their investments and savings plans to gain edge over rivals.
Understandably, these aren’t the only top high demand freelance skills for 2020. However, these three freelance skills can ensure you earn a lot of money, which is the basis of freelancing. As you can see, all these three freelance skills provide flexible working hours and certain skills that would help people. You can try any of these three top, high demand skills for 2020 and make a fortune too.