- Eight Asia Pacific countries place in the top 15 as the most attractive destinations for offshore services globally.
- 2023 Index focuses on talent regeneration and digital skills, bringing Singapore into the limelight as APAC’s emerging technology destination for establishing innovation hubs.
SINGAPORE – Media OutReach – 8 August 2023 – Global management consultancy Kearney has published its 2023 Global Services Location Index (GSLI) that studies the critical factors that make countries attractive as potential locations for offshore services.
In an era of rapidly evolving global business landscapes, business services like information technology, business process outsourcing (BPO), and engineering are increasingly being delivered across borders as companies seek to reduce costs, scale talent, and increase efficiency by utilizing the global talent base. In the current climate, Asia Pacific (APAC) markets shine as potential offshore service destinations, with India, China and Malaysia continuing to lead the index as the top three destinations respectively.
The GSLI ranks 78 countries based on 52 metrics that cover four dimensions including financial attractiveness, people skill and availability, business environment, and digital resonance.
Strong outlook for APAC
Continuing their strong showing in GSLI 2021, APAC countries lead this year’s Index, with India, China and Malaysia in the top three largely due to cost advantage, talent availability, and strong skills. Meanwhile, Indonesia, Vietnam, Thailand, the Philippines, and Singapore are ranked among the top 15. Singapore jumps 24 ranks from 38th to 14th in this year’s rank, the highest leap by any country.
A breakdown of the performance of APAC countries within the GSLI, namely India, China, Malaysia, Indonesia, Vietnam, Thailand, the Philippines, and Singapore can be found in the appendix.
