Impact of Increasing Outsourcing Revenue around the Globe

Outsourcing is an industry that has been rapidly growing in the past decade. As narrated by the analysts, the IT outsourcing revenue has increased a great deal in past two decades. According to a research that was recently held, the IT outsourcing industry has grown up to seven percent, that is from about $228.7 billion to $246.6 billion since the year 2010 and is still on the go. Although the outsourcing market has been growing for the past few years continuously, more rapid increase in revenue was seen in 2011, and most of the credit goes to South Asian countries, who have been the major contributors.

Outsourcing is being taken up by companies worldwide because of its numerous benefits. Apart from advantages, outsourcing helps in moderating your expenditures and providing an easier and faster way out of the tough economy crises of the day. Offshoring your business or some major sectors of your business to a company saves a lot of money and trouble. You do not get to hire loads of staff in house and worry about their work. Offshoring business to a company which has hired professionals and experts in the field saves trouble of hunting down the right staff as well.

Although there have been mixed critics related to offshoring, some people are of the opinion that outsourcing has caused more damage than good. However, in the middle of all the mixed opinions, you can say that while the process has a number of benefits, it does have drawbacks as well. However, even outsourcing is of two types, national and international. If you are outsourcing your business nationally, than local employees will suffer from unemployment, the same way if it is international to some business process outsourcing company, many people within the country will suffer. But in the end, the money earned from your business will contribute in the country’s economy. So it isn’t that big an evil after all- is it?