Offshoring an Opportunity for Australian Economy as Well as a Threat

LONDON, October 16, 2012 /PRNewswire/ --

Workers losing their jobs to offshore service providers should also consider the opportunities offered by the so-called 'Asian Century', http://australia.BusinessesForSale.com suggests.

A report published this week by the National Institute of Economic and Industry Research revealed that 20,000 Australian jobs are being lost every year to China, India and other offshore hubs and predicts that one million service-sector jobs may go overseas by 2042.

However, BusinessesForSale.com, the world's biggest resource for buying and selling businesses, believes that Asia's growing economic might offers many entrepreneurs - and those who dream of being entrepreneurs - great prospects for attracting customers and driving down costs.

The burgeoning size and affluence of the Asian middle classes represents a potential bonanza in sectors such as food, education, tourism and professional services.

The growing sophistication of offshore services means businesses are reducing costs across a widening range of functions. And the emergence of the Philippines as a rival offshore centre to China and India is helping to drive down costs.

Andrew Markou, co-founder and technical director of BusinessesForSale.com, says: "The unstoppable rise of China and other Asian powerhouses presents an opportunity as well as posing a threat to the Australian economy.

"The flight of jobs to offshore centres is regrettable, but, armed with a redundancy payoff, many of the newly unemployed will seize the chance to follow their dream and buy their own business. Offshoring might have cost them their job, but as business owners the rise of Asia will also help them cut costs, access new markets and get their business growing."

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