Offshore Outsourcing - Who can stop the juggernauts?

IDC reports that "the worldwide market for offshore IT services will grow to $17 billion in 2008 from $7 billion in 2003, achieving a compound annual growth rate of 20%."

Wipro, one of the Indian companies, reports "a second quarter profit jump of 79% on increased sales of 44%, beating both the market's and the company's expectations" - these numbers also mean that they managed to increase the value of their work.

India's second-largest software services firm, Infosys Technologies Ltd., posted its biggest quarterly profit jump in three years as telecoms and financial companies increased outsourcing. The company raised its full-year earnings per share growth forecast to 43% from 34%, citing higher prices paid by new clients.

There are also rumours that trends of outsourcing, offshoring, or global sourcing (as this is also called) will accelerate after the elections in the US and that many companies don't want to commit before to avoid a backslash of voters for those that support outsourcing.

Conclusion - be relevant. All those other countries, for example Malaysia, the Philippines or Australia that aspire to be part of the game - fasten your seatbelt and start pressing the accelerator. Otherwise - you will quickly become irrelevant.