China carried forward its focus on improving the business environment by expanding corporate tax rate cuts for high-tech services firms nationwide in order to attract more foreign capital into its high tech services industry. Key challenges in terms of soaring cybercrime levels and risk from natural disasters prevails in the country. However, the country gained some respite from air pollution as a result of some stringent government measures to curb pollution levels.

As per the World Bank’s ‘Doing Business 2018 Report’, India registered a record jump of 30 places from 130th to 100th place in terms of ease of doing business. The Indian government is focused on introducing several reforms to cut bureaucratic red tape, reducing the number of procedures and time taken for number of processes to further improve the ease of doing business. However, risk from social unrest/strike continues to threaten the business operations that do not have appropriate business continuity plans in the country.

Ireland provides favorable laws for employers which promotes friendly business environment. Furthermore, competitive corporate tax rates also aids MNCs’ to set up their business easily and access the internal market of European Union. The country is home to over 50% of the world’s leading organizations operating in the field of BSFI. With respect to IT industry, Ireland continues to be one of the largest software exporters in Europe. Software Development, R&D, and IT Business Services are the major contributors for sector’s growth.

Colombia is a fast developing market for finance and accounting outsourcing (FAO), legal process outsourcing (LPO) and business process outsourcing (BPO) services supported by its adequate infrastructure, quality workforce & strategic location. Nevertheless, finding and hiring the right talent remains one of the major challenges for the companies operating in the country. Furthermore, natural disasters in the form of floods and landslides, drug cartel crime and increasing cybercrime pose serious cause of concern.

Poland continues to develop its outsourcing industry owing to its proximity with West European markets, and robust commercial and telecom infrastructure. Software Development, BPO and R&D sectors are growing at a faster pace in last few years. The government investments and creation of innovation friendly environment are the key drivers of the industry’s growth. In recent years more than 50% of start-ups have been established in the ICT sector.

Brazil’s economy continued to display signs of progression with its largest expansion since the first quarter of 2014, chiefly driven by increase in household spending. However, the Foreign Direct Investment (FDI) decreased in the country when compared to the previous quarter. High social unrest is persistent in the country. On a positive note, the country witnessed a drop in dengue, zika and chikungunya cases during the quarter.

Philippines’ BPO industry offers notable provider and process maturity, aided by adequate talent pool and strong government support. Recently, the government approved a new tax reform bill to make the tax system simpler; and the VAT exemption threshold has been increased for BPO firms to maintain the attractiveness of the sector in the country. However, frequent social unrest and risk of terror attack poses a serious cause of concern for the country.

Vietnam is emerging as an attractive destination for the IT outsourcing sector. Infrastructure development has been identified as one of the top priority areas by the Vietnamese government. Special Economic Zones and Business Parks have been planned in the country to attract more investments and to support the expansion of IT outsourcing sector. However, the country faces challenges with respect to natural disasters and rising number of dengue cases.

Mexico, home to several leading firms in the IT-BPO sector boasts one of the largest IT market in Latin America. Its location advantage and cultural affinity further adds to its appeal as a popular nearshore location. However, the continuing negotiation of NAFTA talks and its outcome remains one of the decisive factors for the economic growth of the country. Furthermore, high social unrest in the form of protests and a surge in homicide rates continue to hamper the geo-political stability of the region.

Hungary is a preferred location for shared service centers as its location enables companies to have morning calls with Asian countries and afternoon calls with the USA. The climate of the country can be considered a typical continental influenced climate. Hungary provides a well-qualified workforce along with good multilingual proficiency. The ICT sector in Hungary continues to grow which is an significant contributor in country’s GDP and employment. On a flip side, businesses operating in Hungary have a high risk of cyberattacks along with higher operating costs.