 |
Protectionism can destroy a business without benefiting anyone. That is what, it seems, is happening to the Business Process Outsourcing sector. This is the very industry that generated revenue of about US$ 234 billion in 2005. The countries that are involved in this business include various European and Asian nations like the UK, Spain, Russia, India, Philippines, China, Japan, and Pakistan. Even the US has a large interest in this market as many of its companies are involved in this outsourcing process. That is why the protectionist laws primarily coming up in the UK and the USA would harm all these players and would not help the global market in any way.
Even at the beginning of the Financial Year 2006 the BPO industry made a profit of $ 22.7 billion. According to a survey conducted by National Outsourcing Association it was estimated that the global BPO industry would generate $ 323, 600 million by the end of the year 2011.