A study by the Conference Board and Duke University on offshoring trends among U.S., European, and Australian firms, found a slowing in the creation of new captive offshore operations and greater interest in the benefits of outsourcing to large offshore service providers.
Nearly two-thirds of the surveyed respondents are planing new offshoring initiatives during the next three years.
The report on the study (“Financial Services Offshoring: Moving Toward Fewer Captives and Global Cost competitiveness,” issued May 28) also found financial insitutions are considering nearshore alternatives in Argentina and Costa Rica as well as lower-cost alternatives in U.S. cities such as Jacksonville (Florida) and Raleigh/Durham/Chapel Hill (North Carolina).
Although the report highlights the fact that the economic downturn caused financial services firms to be reluctant to invest capital in establishing new captive centers, many respondents indicated they plan to expand their existing offshore centers.
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Hey Kathlee, thanks for sharing your post with us. Many big names are trying to expand their existing offshore centers which will benefits outsourcing countries from Asia.