The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookiesbefore using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Europe overtakes US as world’s leading market for new outsourcing contracts

Europe has overtaken the US as the world's leading market for new outsourcing contracts, according to the latest Quarterly Index from TPI, the leading international sourcing advisory firm.  TPI's research reveals that in 2004 Europe represented 49% of the value of major outsourcing contracts (those worth over ?40 million) awarded worldwide, with the USstanding at 44% and Asia Pacific at 7%.  The ?28 billion of contracts awarded by European companies last year is more than double the value in 2002.


?The equalisation between the European and US outsourcing markets comes through dramatic growth in Europe, not any significant decline in outsourcing in the Americas,? says Duncan Aitchison, Managing Director, International with TPI.

?European companies realise that they cannot continue to compete effectively on a global scale without utilising the increased efficiency and flexibility they can gain through outsourcing.?

TPI's research reveals that the value of major outsourcing contracts awarded last year was a record high of ?58 billion worldwide.  Of this, 67% was information technology outsourcing (ITO) and 33% business process outsourcing (BPO), whereby companies engage third parties to perform functions such as finance and accounting, procurement, customer relationship management and human resources processing.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?