PWC: China prime financial services outsourcing spot
A survey conducted by Price Waterhouse Coopers in cooperation with Economist Intelligence Unit (EIU) has shown China to be the number 1 offshoring destination for Asia-based financial institutions.
India follows as a close second in desirability despite its dominance in the employee headcount. Its hold on the market however may slip within the next three years if rising labor costs are not stemmed from the current 40% - 60% annual increase.
Motivation behind the outsourcing of jobs, primary of which are the cost savings, are the recruitment of qualified workers, service quality, intellectual property security, and data privacy.
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