Chinese businesses 'set to maintain growth as IT sourcing destination'

Businesses in China are set to continue to benefit from the country's position as a major provider of IT services, according to new industry analysis.

Everest Group has published a report showing that global service export revenue in the Asian nation is likely to increase to $9.5-10 billion (£6.12-6.44 billion) by 2015, compared to $3.5 billion in 2010.

IT outsourcing will comprise around 65 per cent of this total, thanks to the presence of several high-profile global IT providers within the country, with the remainder accounted for by business process outsourcing.

Amneet Singh, vice-president for global sourcing at Everest, said: "China offers a compelling regional language advantage and cost arbitrage and is thus best leveraged to serve the Asia region, which accounts for about 60 per cent of China's global sourcing revenues."

This comes despite recent Everest analysis showing that global outsourcing trends saw a slowdown during the third quarter of 2011.