noun
- the practice of moving a business process or service to another country, typically to reduce costs
Usage: business/economics term; often used in discussions of globalization and labor
verb
- to move (a business process, manufacturing, or service) to another country
Usage: business/economics term; present participle or gerund form of 'offshore'
Examples
- Many tech companies are offshoring customer service operations to reduce labor costs.
- Offshoring has become a common strategy for multinational corporations seeking competitive advantages.
- The company decided against offshoring its manufacturing to maintain quality control.
- Critics argue that offshoring leads to job losses in developed countries.
- India has benefited economically from offshoring of IT services from Western nations.
- Offshoring certain business functions allowed the startup to scale more quickly.
- The trend of offshoring has shifted as wages in some countries have risen.