Outsourcing: Works both ways

The Sydney Morning Herald reports that according to a growing number of people in the industry say that Australia should look at the global trend toward "offshoring" as an opportunity rather than a threat.

Consultant Sri Annaswamy estimates that 800 jobs have been created in Australia over the last three years as positions were moved from higher cost centres such as New York and London to Sydney.

Deutsche Bank for example has 210 local staff performing global functions and expects that number to hit 250 by the end of the year.

This is a point that is often deliberately missed by those claiming offshoring costs jobs. Often missed too, is the fact that efficiency and cost effectiveness far outweigh the needles burden of carrying a relatively insignificant number of passengers.