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Top Ten Countries Doing Outsourcing
Outsourcing has become a mainstay in the world economy today. Large corporations are looking at reducing their operating costs by seeking out the same work quality at lower costs. According to the 2005 Duke University CIBER/Archstone Consulting study, 73% of Fortune 2000 companies say off shoring is an important part of their overall growth strategy. Here is a list of the top ten outsourcing destinations. 1. India is the leading star of this global outsourcing surge, cornering approximately 80-90% of the global offshore market. It has to its credit a large pool of talented and English speaking professionals (200,000 IT graduates per year), robust infrastructure as well as the advantage of providing outsourced services at a low cost. It leads over its nearest rival by a wide margin mainly due to its early start in the field. 2. China is being touted as being the next big IT outsourcing destination and is expected to rival India by 2007. The Chinese IT services market has grown nearly 42% a year since 1997. This growth is mainly built on the pricing plank and a study by PriceWaterHouse Coopers that suggests that using China based outsourcers could save companies approximately 37% as compared to those from India. The Chinese government has also put in its bit to enhance China’s image as an outsourcing destination. It has liberalized the economy, laws and policies and laid a major emphasis on education. China is fast becoming a low cost alternative to its economically developed neighbors like, Korea, Japan, Taiwan, Hong Kong and Singapore. 3. Malaysia has well-developed world-class infrastructure and its outsourcing industry has good government support. A number of policies are being put in place to widen the labor pool and improve proficiency in English and technical skills. 4. Philippines has many years of experience in the BPO space and have to their credit a vast population that speaks English with American accents, while also being exposed to Western culture and global business. It also has high bandwidth as compared to its other neighbors. 5. Hungary is slowly emerging as Europe’s leading IT service providers. Once an Eastern Bloc country, it has the advantage of offering its European counterparts with near shore facilities at a much lower cost. It also has to its credit a large pool of tech savvy workers with cultural compatibility to Western Europe. Among the top companies that have set up shop here are the likes of TCS, EDS and IBM. In a deal worth $35.54 million, IBM was to create approximately 700 service centre jobs, which include financial services, procurement, human resources and call centre positions. 6. Czech Republic also boasts of low costs and cultural compatibility combined with good political stability. It is emerging as an ideal destination to service the German market. 7. Russia is emerging as a preferred destination for outsourcing of complex R&D problems for most global corporations. The IT companies here are built on the “boutique” approach, which focuses on the solving of advanced R&D problems. Russia has over 2 million people working in their over 4500 R&D centers, and of these at least 1 million are researchers and scientists. This pool of highly educated and talented workers known for their unconventional approach and complex problem solving capabilities has attracted companies to outsource their R&D work to Russia. The companies with a presence here include Bechtel, IBM, Intel, Boeing, Microsoft, Sun Microsystems and Motorola. 8. South Africa is one country that is slowly emerging as an outsourcing destination that is taking advantage of increased competition worldwide. South Africa is advantageous to the UK market as it lies in the same time zone and has a similar culture. It has to its advantage good infrastructure; call center operation capabilities and mastery over the English language. 9. Mexico is increasingly becoming a preferred destination to service Spanish speaking populations. Big companies like Accenture, IBM and EDS have a significant presence here. 10. Poland is another country favored by the German companies as it has a large base of German and English speakers. Its advantages as an outsourcing destination lie in its cultural and time zone compatibility for Western Europe. Article published in December 2006.
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