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Friday, September 18, 2015

Global Business Services Outlook Report 2015

Sep 17, 2015 - KL :

Malaysia’s Global Business Services, ‘GBS’ industry (formerly and also known as ‘Shared Services & Outsourcing Industry, ‘SSO’) is in a stronger position to tap the USD670 billion global market; with several factors driving growth for the sector.

(2nd from Left) David Wong with Cheah Kok Hoong (3rd from Left) together with PIKOM and OM Council Members launching the GBS Report

This report is based on findings gathered from respondents from 15 key countries / economies; and reveals that the global GBS industry stood at USD670 billion in 2014, with APAC accounting for the largest share of 36% at USD240 billion. Of this, Malaysia’s share of the pie is comparatively small at USD4 billion, which indicates much room for growth.
  • Overall, demand that fuels GBS growth is expected to stem from the banking and financial services (‘BFSI’), government, retail and hospitality/ tourism industries.
  • Despite current economic challenges, Malaysia continues to retain its attractiveness as a leading GBS location, given the country’s continued ability to provide cost savings for buyers and its capacity to serve global markets.

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