Offshore outsourcing bill will increase to $261bn by 2010

By Scott Vincent

OFFSHORING among global financial services institutions has increased by 38% in the last year, despite companies fearing a media backlash from moving jobs offshore, according to a new survey from Deloitte Research. The survey showed that overall spending on offshoring will increase to $261bn by 2010. This is despite 80% of financial services executives expecting significant media criticism for offshoring jobs, as well as reactions from labour groups and the government.