Presentation by Eric Hochstein of Ontario Ministry of International Trade and Investment
Presented at Global Sourcing Council's Conference at Steven's Institute of Technology
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Diversifying Your Sourcing Strategies Through Nearshore Alternatives
1. Diversifying Your Sourcing Strategies Through Nearshore Alternatives Eric Hochstein Ontario Ministry of International Trade and Investment Global Sourcing Council February 9, 2009
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7. Canada Ranked Third Among Best Places to do Business Source: The Economist 'Pocket World in Figures, 2007' (12/2007) 1. Denmark 2. Finland 3. Canada 4. Singapore 5. Ireland 6. Netherlands 7. United Kingdom 8. United States 9. Switzerland 10. Hong Kong 11. Sweden
8. UN Human Development Index Source: United Nations, Human Development Report 2007/2008… statistical update 2008 It is about creating an environment in which people can develop their full potential and lead productive, creative lives in accord with their needs and interests. Rank Country 1 Iceland 2 Norway 3 Canada 4 Australia 5 Ireland 6 Netherlands 7 Sweden 8 Japan 9 Luxembourg 10 Switzerland 11 France 12 Finland 13 Denmark 14 Austria 15 United States 94 China 102 Philippines 132 India
9. Top ten by GDP Ontario: Ninth Largest Jurisdiction in North America Figures for 2007, Ontario’s at PPP. Source: US Bureau of Economic Analysis, June 5, 2008 Ontario Ministry of Finance, OECD
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11. Source: Statistics Canada *Month of November 2006 (1/2007) Offshore Strengths Best Kept In-House Ontario’s Sweet Spot for Outsourcing Global Sourcing Strategy Creating the Portfolio Highly Efficient Highly Creative Freestanding Highly Interactive
12. Canada’s Quality is Recognized “ U.S.-based buyers apparently believe that what they may give up in terms of cost savings by going to Canada is more than compensated by the gains they make in terms of proximity, communications and culture.” DiamondCluster International, 2006 Global IT Outsourcing Report American companies outsourcing their IT prefer the nearshore Canadian value proposition as an alternative to offshore options, according to new research from IDC… The study also discovered quality is more important than cost savings when outsourcing IT. “ Global Sourcing Trends Necessitate Considerations of Nearshore Sourcing in Canada” (IDC, March 2004)
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