UK leads new wave of offshoring activity

UK
companies lead European businesses in sending service operations offshore,
according to a United Nations survey.

The
survey of European companies found that nearly half intended to move more
services offshore in the next few years to cut costs.

British
companies were the source of 61 per cent of all service jobs moved offshore.
Germany and the Benelux countries provided the next highest percentage of 14
per cent each.

The
survey, conducted by the UN Conference on Trade and Development and German
company Roland Berger Strategy Consultants, found India was the main recipient
of jobs and projects.

But
Europe, including the UK, was also a favoured destination for companies looking
to relocate. 

India
received 37 per cent of all projects sent offshore, with the west of Europe
taking 29 per cent and eastern Europe 22 per cent.

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Companies
cited cost savings of up to 40 per cent as their main reason for relocating.
Only 3 per cent of companies were unhappy with moving their operations.

By
Paul Yandall