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European Tech Sector Sending Jobs to India, China

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European Tech Sector Sending Jobs to India, China

New Delhi, Delhi, India

The annual IT confidence survey by Eurocom Worldwide, the global PR network, in association with its member-agencies across Europe, has reported that certain jobs will continue to move to low-cost centres such as China and India. These are findings according to the annual IT confidence survey by Eurocom Worldwide, the global PR network, in association with its Indian member agency IPAN.

"The study finds that not only are traditional manufacturing jobs at risk but increasingly service jobs are shifting to low-cost centres as well," commented Mads Christensen, Network Director, Eurocom Worldwide.

Based on the observations and responses of 217 CEO's, Director's or VP-level executives across Europe, the study finds that while the outlook for employment in the European technology sector is buoyant, a haemorrhage of jobs to low-cost locations looks set to accelerate.

As many as 81% of respondents believe that their country is losing tech manufacturing jobs to low-cost centres such as China, India and Eastern Europe, while 58% believe that service jobs are moving as well.

"The outlook for jobs is reflected in the fact that skills shortage is now listed as the biggest threat to the tech sector," commented Vivek Sengupta, President, IPAN However, he warned that certain jobs will continue to move to low cost centres such as China and India. "The study finds that not only are traditional manufacturing jobs at risk but increasingly service jobs are shifting to low cost centres as well."

At the same time, the study finds record levels of confidence across the European tech sector with 63% expecting to increase headcount (58% last year) and only 4% expecting job losses (8% last year).

"The study finds a significant increase in confidence levels from an already high base last year," added Mads Christensen, Network Director, Eurocom Worldwide. 65% of respondents are more confident about tech sector prospects in 2007 compared to 53% last year. Over 90% expect revenues to increase over the next 12 months (79% last year).

Jobs most in demand by the industry are software engineers followed by international sales, project management and domestic sales people.

The tech sectors expected to see most growth over the next 12 months are IT security followed by mobile services, on demand computing/software-as-a-service, CRM (Customer Relationship Management) and IT outsourcing.

While the US is traditionally viewed as the home of technology the best prospects for growth are seen in Western European economies (38%) followed by North America (19%); Central & Eastern Europe (17%) and China (10%).

Respondents are bearish on the outlook for the US economy with 33% less confident about its prospects and 19% more confident. Despite the bullish outlook for the tech sector overall, 43% of respondents expect the tech heavy NASDAQ to mark time over the next 12 months. A similar number expect it to rise while 14% expect a fall in NASDAQ shares.

When it comes to global warming nearly two thirds (63%) of respondents believe that the technology industry has a role to play in its prevention and should be doing more.

About Eurocom Worldwide

Eurocom Worldwide is a global alliance of independent, privately owned communications agencies offering unrivalled expertise in international communications campaigns executed by local people. Eurocom Worldwide has 29 member agencies comprising over 1,200 communications specialists and consultants in 60 national capitals and centres of commerce around the globe. For more information, visit www.eurocompr.com

About IPAN

IPAN is India's leading public affairs and public relations consulting firm. Founded in 1988, IPAN serves some of the finest organizations in the world. IPAN has offices in Delhi, Mumbai, Chennai, Kolkata and Bangalore, and representation in over 20 other major Indian cities, with a combined reach of over 100 towns and cities. Since its inception, IPAN has charted not just its own growth but the growth of the entire PR industry in India. The first professional PR agency to be set up in the country, IPAN has been constantly innovating and has been the force behind PR being used as a strategic tool by corporates and organisations to achieve their strategic goals.

Rashi Tarika, IPAN, +91 (011) 4249 2100 rashi.tarika@ipan.com

Source: Eurocom Worldwide (Business Wire India)

Press release presented here is sourced from the Source mentioned above and is provided on as-is basis. Please contact the Company / Source directly for any further information in regard to this release. This website will be unable to assist you in regard to the accuracy or correctness of information in this release.

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