China’s government has taken several measures such as reducing its red tape and expediting approvals for businesses operating in Guangzhou and Beijing regions to improve ease of doing business in the region. Furthermore, the government has planned to reduce value-added tax rates by 1% from May 1, 2018. On the other side, risk from natural disasters and extreme weather conditions continue to pose a threat for businesses operating in the country.

As one of the world’s most preferred outsourcing destination, Indian IT BPM industry continues to grow with projected growth rate ranging between 7-9% for 2017-18. The sector has been among the key job creators in the country. In February 2018, the PM of India launched ‘Future Skills’ platform to upskill Indian IT Professionals in new tech capabilities.However on a downside, the risk of cyberattacks remains high. As per Cisco 2018 Annual Cybersecurity Report, Indian companies have lost more than US$500,000 to cyber-attacks in last 1.5 years.

Ireland is widely known for its open and business friendly environment with one of lowest corporate tax rates in Europe. Being a member of the European Union (EU) and Eurozone it has easy access to Europe’s internal market. Post Brexit, the country will be only English speaking member of the EU which has a common law and legal system, similar to United Kingdom. All these factors make Ireland an attractive destination for foreign Investments.

Mexico, being one of the largest IT market in Latin America is growing at a consistent rate owing to its growing number of service providers and adequate IT infrastructure. Nevertheless, the quality of skilled talent pool available in the country persists to be an area of concern for IT companies operating in Mexico. Also, the geo-political stability of the region poses a challenge due to frequent earthquakes and rise in influenza cases.

Philippines’ economic growth is projected to accelerate in 2018 due to rising domestic demand, remittances and employment in addition to infrastructure spending. The ‘Build Build Build’ infrastructure projects and comprehensive tax reforms are excellent initiatives in continuing the country’s strong performance. Net inflow of foreign direct investments (FDIs) also reached a record high of US$10.05 B in 2017 on the back of positive investor sentiment. On a downside, the country continues to face persistent terror threat and risk of natural disasters.

Colombia has emerged as one of the largest provider of IT services in Latin America due to its competitive workforce and nearshore proximity. The decision of Colombian government to reestablish peace talks with ‘ELN’ (the last remaining major rebel group) offers a positive geo-political outlook for the country. However, the country faces key challenges such as corruption, large scale protests and drug cartel crimes.

Brazil’s economy took an upturn in 2017 after a 2-year recession. The country’s GDP grew at 1% after two consecutive contractions of 3.5% in 2015 and 2016. As a result of this, International Monetary Fund had projected the Brazilian economy to grow at 2.3% and 2.5% in 2018 & 2019. However, increasing budget deficit remains a major concern. Also, the outbreak of yellow fever during the quarter poses a challenge for the country.

Poland is a prominent player in BPO market in the Central and Eastern Europe (CEE) region. The country is also one of the most attractive European destinations in terms of outsourcing software development and foreign direct investment. A lot of Polish cities, including major ones such as Krakow or Katowice, are special economic zones, which grant income tax exemptions and technology incubation to attract investors.

Being one of the promising outsourcing locations in the Asia Pacific, Vietnam remains among the world’s fastest growing economies. During Q1 2018, the GDP growth rate surged to 7.38% backed by solid expansion in services sector and exports. The country has put in notable efforts to ensure that more foreign investments come into the country by revamping the legal framework governing investments and protection of intellectual property. Despite these measures, various regulatory issues and bureaucratic hurdles remains a major challenge for the investors in Vietnam.

ICT (Information and Communication Technology) sector plays a vital role in Hungary’s economy. It contributes about 12% per year to the entire GDP of the country. Presence of numerous companies varying from big technology giants to shared service centers makes Hungary a major outsourcing destination in Europe. Majority of the outsourcing centers are specialize in providing IT services, followed by the financial and customer centric process oriented services. However, high salary for professionals and limited availability of workforce are areas of concern for firms operating in Hungary.