Background and Context

The global sourcing market witnessed steady growth in 2012 to reach a size of ~ US$127 billion. While buyers leverage various sourcing models considering their objectives and requirements from sourcing, the in-house model continues to be an integral component of this evolution.

The success of the GIC model in India and Philippines led buyers to explore other locations. While India and Philippines continue to lead GIC activity, companies established GICs in other parts of Asia, Central and Eastern Europe, Latin America, and Africa.

One of the strongest contenders among nearshore locations is Costa Rica, with significant GIC activity over the past five years. Due to its unique value proposition (e.g., proximity and cultural affinity to United States, low risks, and multilingual capabilities), Costa Rica established itself firmly as a credible location to support voice-based work. The market also diversified into services, such as back-office BPO, F&A, IT services, and KPO, in the last two to three years.

In the first section of this edition of the biannual GIC report we analyze the offshore GIC landscape in Costa Rica in terms of market size, historical growth, future growth expectations, landscape of GICs, functions supported, and key cities witnessing activity.

The report also provides an update on the global offshore GIC landscape, along with a view of the recent trends (2010 to 2012) in the GIC landscape.

Scope

This research leverages Everest Group’s proprietary GIC database, the industry’s most comprehensive database on GICs.  The analysis is based on GICs providing offshore delivery of global services, and excludes shared service centers that serve domestic operations.

• Data from the GIC database and Everest Group’s experience in the GIC segment have been supplemented adequately by interactions with GICs and service providers on key topical themes of the study
• This report is relevant to a broad set of stakeholders – buyers/parent organizations, service providers, GIC organizations, and industry influencers (investors, industry bodies, etc.)

Contents

This report provides an in-depth analysis of the GIC landscape and trends in Costa Rica, covering market size and growth, distribution of GIC landscape, and comprehensive information on industry verticals. The report also covers a detailed analysis of the overall offshore GIC market and trends, besides providing detailed profiles of the GIC landscape in six key industry verticals – Banking, Financial Services, and Insurance (BFSI); Energy and utilities; healthcare; Manufacturing, Distribution, and Retail (MDR); technology; and telecom. The study concludes with an analysis of the recent trends (2010 to 2012) within the GIC landscape.