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Consulting in Emerging Nations/The Offshoring of Consulting Projects, Business and Industry Trends Analysis

In emerging and mid-tier nations, the consulting industry has generally enjoyed good long-term growth, riding the economic ups and downs of important markets such as Brazil.  This is not to say that business is steady.  For example, the Coronavirus was disruptive to the economies of many emerging markets from Thailand to Brazil, particularly those that rely on the tourism sector.
Consultancies that do well in this global economic environment will be those that emphasize their ability to create cost-savings, enhance efficiencies and deal effectively with government austerity programs or other dramatic changes in governmental goals and programs.  In recent years, many types of consulting and accounting projects have been offshored to a growing extent.  Initially, this was due to efforts by firms in North America and Europe that wanted to take advantage of the lower hourly fees charged by professionals in emerging nations.  More recently, however, offshoring of such tasks has become necessary in order to conduct consulting projects in the growing nations where business practices must be applied.  As multinational companies headquartered in the U.S. and elsewhere continued to open offices, factories and research facilities in nations such as India, Malaysia, Indonesia and China, consultants had to follow.
At the same time, China and India are investing heavily in their own upper-level education systems, and they are now graduating large numbers of MBAs, scientists, researchers and engineers from their own universities.  Many Asian nations have already achieved excellent success in this regard, including China, South Korea, Singapore, Taiwan and Japan.  This means that a growing global cadre of young people with graduate degrees and high ambitions are seeking entry-level work in consulting of all types.


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