Best Countries for Engineering Outsourcing
What are some of the best countries for engineering outsourcing this 2018? Naturally, places where the cost of living is low are great outsourcing destinations for engineering. And for good reason. Companies that are looking to save money can take advantage of the more affordable wages in these countries and to contribute to the local economy.
Businesses that are looking to outsource not only top engineering talent, but also IT, accounting, and customer service professionals, can take their pick from countries in Europe and Asia that offer motivated and highly skilled people. In Europe, some destinations have economies that offer lower upfront costs with in-demand skills like engineering professionals than in more developed economies. Examples of some of these European countries are Bulgaria, the Czech Republic, and Hungary.
In Asia, a large number of professionals are ready to be tapped for outsourced work. Several Asian universities produce countless industry-ready graduates annually. It’s a fact that Asia has been consistently producing engineering graduates ready to step into the workforce. Companies looking for experienced talent instead of fresh graduates can readily tap into a wide pool of experienced engineers.
Here are the three best countries for engineering outsourcing in Asia.
Global management consulting firm A.T. Kearney believes Malaysia, which came at the eighteenth place in the World Bank’s Ease of Doing Business Index 2016, has the potential to become a global player offering outsourced services. Malaysia has benefited from improved English skills in the past few years, which could put the country in a position to capture more demand in the future.
It has a highly trained workforce, in particular, which is no doubt an attractive asset. Malaysia produces more than 135,000 graduates every year, and many of these will have knowledge not only of customer service management, IT, accounting, and human resources services but also engineering services. In addition, according to the National Association of Outsourcing, Malaysia places a strong emphasis on education, giving the country a large talent pool.
It’s no surprise that Vietnam is one of the growing destinations in Asia for outsourcing. In fact, economists believe it has huge potential for outsourcing in the long run.
A notable advantage for Vietnam is that a big percentage of its professionals is aged under 30 and that the Vietnamese government is working hard to create a more highly skilled workforce, which includes engineers.
All of these makes Vietnam a contender to become a major outsourcing destination in the future. In fact, according to a report by accountancy firm KPMG, it is already considered an attractive destination for various outsourcing services. One barrier that the country needs to work on is the limited language skills of its talent pool, specifically when it comes to English communication skills.
One of the Best Countries for Engineering Outsourcing This 2018: The Philippines
The Philippines is one of the best countries to consider for engineering outsourcing. Annually, almost forty thousand engineering graduates enter the workforce in the Philippines. These engineering graduates become highly skilled structural engineers, civil design engineers, mechanical engineers, aerospace engineers, and more. Looking at the outsourcing sector as a whole, the industry actually makes up about 8 percent of the GDP of the country. Naturally, more and more international businesses are choosing to outsource to the Philippines and tap outsourced professionals, especially engineering positions.
Many foreign companies are now tapping engineering talent from the Philippines for different purposes and projects, the majority of which include research and product development, design, planning, and even projects related to construction. The good thing is that the Philippines continues to improve in terms of engineering developments, experience, skills set, and technological requirements, which will only thrust the country to the forefront of engineering outsourcing in the next several years. Filipino engineers are not only hardworking, creative, and skilled and experienced, but they are also well-versed in engineering software and tools, including computer-aided design (CAD), computer-aided manufacturing (CAM), AutoCAD, MATLAB, CATIA, ZW3D, MechDesigner, Solid Edge, and more.