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Frost & Sullivan: Asia Pacific To Drive Global Services Industry In 2013

KUALA LUMPUR, Malaysia, Jan. 28, 2013 /PRNewswire/ -- The global services industry looks to maintain strong growth momentum heading into 2013, with the Asia-Pacific market as a major driving force. Asia-Pacific continues to be preferred locations of choice with India, China, The Philippines, and Malaysia followed by Indonesia, Thailand and Vietnam.

In 2012, the complex and uncertain global economic conditions, persistent struggle in the Europe markets, combined with sluggish growth in the US due to impacted elections, and similarly tamed growth in developing markets ( China, India and Brazil) affected the outsourcing industry as a whole.

The Asia-Pacific market outlook is prominently positive due to their domestic growth potential and with accelerated momentum they are likely to gain further from global outsourcing. However, Latin America is looked to benefit from the near-shore trend and is likely to come up as competitor to APAC destinations. With increasing focus on cost, rural sourcing is set to pick up with government interest.

According to Krishna Baidya, Industry Manager, ICT Practice APAC, Frost & Sullivan, "The large LATAM market is location-dependant and locations such as Brazil, Mexico, Chile, Colombia and Peru are likely to register outsourcing growth whereas destinations such as Guatemala, Costa Rica, Panama, Honduras are likely come up often while picking nearshore destination."

"Global services providers are likely to set or expand their presence in those markets to take advantage of the market sentiment," he added.

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