UK outsourcing generates over £200bn a year

Summary:The demand for IT services has nearly made outsourcing a rival of financial services, generating around eight percent of the annual output of the UK economy

Demand for IT services has helped outsourcing become one of the highest grossing industries in the UK, research has shown.

UK IT outsourcing

Outsourced activities nearly adds to the UK economy as much as financial services in 2009. Credit: Oxford Economics/Business Services Association

IT and data services provided by British-based businesses generate revenues of about £41.7bn per year, more than any other outsourcing sector in the UK, according to the report, titled The size of the UK outsourcing market - across the private and public sectors.

Overall, outsourcing generates about £207bn each year, roughly eight percent of the annual output of the UK economy, making the industry almost as big as the financial services sector, researchers from Oxford Economics found.

For more on this ZDNet UK-selected story, see UK outsourcing almost rivals financial services on silicon.com.


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Topics: IT Employment

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Nick Heath is chief reporter for TechRepublic UK. He writes about the technology that IT-decision makers need to know about, and the latest happenings in the European tech scene.

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