June 23, 2006
Asia-Pacific IT Outsourcing is Booming
According to a recent report, Asia-Pacific outsourcing spending is all set to cross the $10 billion mark this year. In this region, more emphasis is being given on IT outsourcing. Research firm IDC has estimated that $10.5 billion will be spent on IT outsourcing within the region in 2006. As the sector is booming on a high pace, it is expected to reach $16 billion in 2010. In the past decade, the Asia-Pacific outsourcing market has seen significant increase and it is surging further. Besides India and China, Philippines also joined the exclusive club of hot outsourcing destinations. Countries such as Singapore and Hong Kong are also attracting more outsourcing businesses.
According to the report, Singapore and Hong Kong--despite some market saturation--continue to offer opportunities in contract renewals and extensions, where companies look to migrate from support contracts to managed or outsourcing contracts.
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