How fast is Offshoring growing?

A business strategy that involves relocating operations or services to another country to reduce costs and gain other economic benefits. Offshoring differentiates itself by focusing on the geographic relocation of business functions, often involving setting up dedicated teams or subsidiaries abroad, rather than solely delegating tasks to external vendors. This strategy primarily targets businesses seeking significant cost reductions, access to a global talent pool, increased efficiency, and opportunities for 24/7 operations.