European outsourcing spend hits highest level in four years - report
Published on Apr 16, 2014 2:04 AM
LONDON (REUTERS) - The value of commercial and public service contracts awarded to outsourcing firms in Europe has hit its highest level of growth in four years, as cash-strapped governments and companies attempt to cut costs, despite a string of high profile contract failures in recent years.
A report by industry analyst ISG said on Tuesday the annual contract value (ACV) for outsourcing in the first quarter across
Europe, Middle East and Africa (EMEA) rose by 29 per cent on a year ago, amounting to a total spend of 2.4 billion euros (S$4.15 billion).
This is the second highest level of spending seen in the region since the start of the financial crisis, when the equivalent spend stood at over 3 billion euros before falling back to 1.8 billion in 2009, rising to 2.69 billion in the first quarter of 2010 and falling back to 2.3 billion in 2011, 2.1 billion in 2012 and 1.8 billion euros in 2013.
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