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India is the most popular country for outsourcing. This is why it has become normal to hear someone who has an Indian accent, while you are attempting to activate your new iPhone. Companies across the world are reaching out to India because their culture is full of intelligent, efficient, and hard-working individuals. The only thing that is a real drawback is the country’s environment. The weakest side of this country is their political environment. The government is led by a president whom is independent of his legislature. Not to mention, the country has the second highest population in the world next to China. These two elements can sometime work against each other, thus creating an unstable environment.
China is a country that is still adjusting to the world’s economy because it decided to begin to enter global business 21 years ago. Known for having the largest populous, China has over 1.3 billion consumers in its market. Manufacturers and retailers throughout the world jumped for joy when they discovered the opportunity that is - China. This country is a key player in the global outsourcing industry and plans to steal a significant segment of India’s outsourcing revenue in the future.
Too many outsourcing newbies, Malaysia is a part of the top three global leaders. Its predicted net-value for the 2013 fiscal year is said to be close to $1.9 billion dollars. Known for its cost-effective and value-oriented services, Malaysia will be able to remain a key contender among it’s BPO (Business Process Outsourcing), SI (Systems Integration), and IT consulting segments. Unlike China and India, Malaysia has low people skills, which lower its attractiveness.
Thailand is a very popular outsourcing country because it has been deemed to be one of the most financially attractive countries in the world. Its low costs and high returns entice business professionals around the world to invest into this profitable country. However, the country’s downfall is its political infrastructure. Thailand lacks workers who are innovative, intelligent, and cohesive to whatever project gets thrown at them. Many perceive the problem to come from its poor leadership and political decisions. A great way to understand this country is by looking at what’s going on outside of business. For many professionals who are uncertain, a visit will give more than enough for a business-professional to make a decision.
Brazil is a very balanced country when it comes to outsourcing considerations. Their financial attractiveness, political/economic environment, and people skills are quite even. The company caught its first big break after reaching a 75 percent increase in outsourcing revenue in 2008. This placed the country atop the best locations around the globe. With a strong economic footprint, combined with the largest domestic IT consumption in Latin America, Brazil is revered as one of the hottest countries in the business world.
Indonesia is a country that is nearing the IT leaderboard. The country has decided to move away from its dependence on exports, which made up a large portion of their outsourced business. Indonesia is now restructuring its strategy toward economic growth. Their main proponent is the IT segment, which include SI, training, support, internet, and global professional services. For businesses that are looking to join the IT segment, Indonesia should be your first consideration.
At this point, you might have noticed that the list has a strong trend toward Asian countries. Bulgaria is making Eastern Europe proud through its fundamental strategy, “nearshoring”. This country offers less expensive labor and services toward neighboring countries, which include the United States and Western Europe. This tactic has helped the country climb the ranks and reach the top ten among outsourcing countries. Through an attractive and stable macroeconomic and political environment, the country has been able to provide competitive pricing and a high-quality workforce.
With a growth rate of 46%, the Philippines have become a strong competitor among the outsourcing industry. This growth rate has been maintained due to this country’s low labor costs, highly skilled workforce, and language diversity. Call centers have begun showing up and provide businesses email response and management services. 80% of this service is administered to the US, which has given the countries BPO services a huge boost. Quality, Cost-effectiveness, and reliability is the best way to sum up this countries provisions.