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When you call your bank or telephone company up, it is highly likely that the person on the other end of the line is in a whole different country. However, that is only a small percentage of the global outsourcing industry that generated revenues ofÂ $104.6 billion in 2014, according to StatistaÂ Big players in industries like banking, finance, energy, publishing, telecommunications, and other industriesÂ sign deals every yearÂ with outsourcing providers in order to increase their efficiency. Although you might think that it is a recent phenomenon, it is necessary to point out that business was outsourced for the very first time back in 1978 whenÂ General Motors opened its first plant in Mexico,Â primarily because of cheaper costs. At the last count, the number of such plants in Mexico owned by General Motors stands at 50.
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