The UK is the largest global sourcing market in Europe, according to research from the Everest Group.
The sourcing market in Britain has grown by 36% between 2004 and 2009, because of cost pressures and the abundance of English-speaking supply locations, it said.
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But the UK's estimated global sourcing opportunity is about $60bn (£37bn); five to six times the current market, it added.
Some 75 cities in Central and Eastern Europe, Africa, South Asia (including India) and Latin America currently serve Europe.
The global sourcing opportunity in Europe is between $250bn and $300bn, said Everest.