Top 5 Outsourcing Destinations
There has been a tremendous transformation in the delivery of services in the increasingly globalized market. Delivery of services outsourced from far-flung locations have been possible with technology advancing by leaps and bounds. There has been a good deal of discussion about the dynamism in the outsourcing industry and how it has spread like a wildfire to almost all the countries in the world. Within a span of ten years, the outsourcing industry has gained recognition of being the most stable and mature commerce in the world.
There are many countries emerging as the prominent outsourcing destinations. The top five such destinations are:
: China being one of the densely populated countries, provide competitive advantages against the dominant outsourcing destinations. The current outsourcing market in China is growing speedily and many countries have opted to shuffle their headquarters in China. China holds the highest in parameters like infrastructure and government. The country offers skilled workers in fields like insurance claims, mortgage etc. The biggest selling point for China establishing its position in the outsourcing domain is because of its low labour cost.Â It is said to be as much as 30% less as compared to that of India. China is on track to usurp a substantial share of Indiaâ€™s revenue in outsourcing.
: Philippines has become one of the most active participants in the BPO arena. This advancement has been led by the increasing demand for lower labor expenses, intelligent workforce, and of course proficiency in English. According to reports, the Philippines market share for the global offshoring and outsourcing (O&O) industry has grown to 15% in 2008, thereby making it the third largest O&O BPO destination in the world. In Phillippines, the Business Process Outsourcing has risen, offeringÂ various services to human resources, animation as well as various other fields. It has invaded the call center market and earned the title of being â€˜The Call Center Kingâ€™.
: Amongst many prominent countries, Indonesia has also entered the list of being one of the popular outsourcing destinations. Indonesia is in a constant effort to liberalize its economic policies to support its outsourcing industry. The country boasts of its large labour pool and well established industry thereby involving the high-flying multinational companies.
: The growth of outsourcing industry in Malaysia has grown due to the viable support of the government. Many Asian countries have been attracted due to its excellent hold in multicultural and multilingual strength. The country has continued to strengthen their position and leveraged increased demand for low cost services.
: Singapore is yet another location ideal for robust outsourcing operations. Owing to its outstanding business milieu and quality infrastructure, the sourcing sector is expanding. Being in the vicinity of the Asian countries, they have a fair advantage of being an ideal outsourcing destination. Singapore is booming in the BPO sector and is likely to become an international hub for BPO resources.