The UK has overtaken the US to become the leading national market for new outsourcing contracts. Sourcing advisory firm TPI says the UK represented over 37% of the €11 billion market for major outsourcing contracts awarded worldwide so far this year.
TPI reports that the US won only 25% of major outsourcing deals (those worth over €40 million), with Asia Pacific at 4%. But the firm notes that the UK's position is largely the result of a massive outsourcing deal between Reuters and BT, and it is unlikely that its lead will be sustainable in the long term.
Without the Reuters/BT deal the UK would have been the second largest national market with 16% of new contracts worldwide, says TPI.
However, Europe does dominate the global outsourcing market. Its share of the total value of new outsourcing deals more than doubled in the first three months of this year, accounting for 70% of the contracts awarded, compared with a share of just 34% in the same period last year.