TPI sourcing industry scan: More outsourcing contracts are being signed in Europe MEA and Asia Pacific

In Europe, 157 contracts were signed in 2006. This was up roughly 11 percent â€" a record number for that region. As many of these were smaller contracts, the total contract value (TCV) shrank to just over US$30 billion, down 24 percent from 2005.

Asia Pacific also experienced significant volume gains, however this region was also awarded more TCV in 2006. Asia Pacific signed 45 Broader Market contracts â€" commercial contract awards valued at TCV greater than $50M, which was up 25 percent year over year. The region accounted for just over US$10 billion in TCV, an impressive 64 percent gain from 2005. In fact, Asia Pacific represented almost 13 percent of global commercial outsourcing signings, the first year since 2002 that it accounted for more than 10 percent of the global market.