Europe is biggest market for outsourced services

Europe is overtaking North America as the region which spends to most on outsourcing business services and processes.

Europe is overtaking North America as the region which spends to most on outsourcing business services and processes.

According to sourcing consultancy TPI, European Forbes Global 2000 companies, which are the biggest 2,000 firms in the world, spent more than their US equivalents in the first three quarters of 2009.

The TPI Momentum report said Europe is on course to outstrip the US for the full year.

Last year, North America recorded $29.6bn in average annual contract value, compared with $28.7bn for Europe.

US companies spent the most, while UK companies were the second biggest spenders.

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