Offshore development includes software, web design, website, application testing and more. Outsourcing software development is the driving economic force of many emerging countries. India and China are well recognized as the industry leaders for outsourcing software development. Despite their huge market share in offshore development, Vietnam is quickly emerging as a software outsourcing destination. It is gaining recognition as a low cost quality software maker in Asia. CIO magazine suggests that outsourcing to Vietnam is about 90% cheaper than developing software in the United States of America. Compared to India, developing software in Vietnam costs between one third and one seventh times cheaper. These are very convincing figures for companies to start venturing their offshore development to Vietnam.
Research Vietnam is an outsourcing intermediary claiming that outsourcing software development costs 50% less than the rivals from India. On top of it, Anderson Vietnam estimates that outsourcing per person in Vietnam is only $20,000 per person compared to $40,000 per person in India. These figures are convincing enough to place Vietnam as the top future contender for offshore development projects. As Indian companies enter the maturing cycle, the cost differential between India and Vietnam will increase even further. The outsourcing costs in India are most likely to increase in the coming years. Outsourcing to Vietnam makes a lot of sense for companies looking to make the most cost effective development. Vietnam ranks 20th among the top nations recognized as an excellent outsourcing destinations.
Vietnam has a population of over 90 million people and over 60% of the population is under 30 years of age. The young generation of skilled workers is highly motivated and technologically advanced. This dynamic generation provides a great pool of skilled workers required to meet the growing demand of offshore development. Each year more than 25,000 technical engineers graduate from the universities. Young Vietnamese with better education have already overcome the English language barrier that was believed as a weakness earlier. These are few of the reasons that make Vietnamese one of the best communities that’s globally competitive and technically advanced.
With a robust economy, that has an unbelievable growth rate; Vietnam is considered to be a dynamic nation with great outsourcing potential. With a stable and secure government, it is now considered as a legitimate nation under one roof. In an international survey taken in 2002, Vietnam was the safest country to travel in Asia. Government of Vietnam is promoting its economy for more foreign investment. It offers great incentives in the IT industry in order to capitalize on globalization.
Companies have started to capitalize this great opportunity of outsourcing to Vietnam with low cost and exceptional quality. Vietnam is on its way to write a new chapter in the history of outsourcing software development. The world will be watching this new revolution in offshore development happening in Vietnam. As an emerging software outsourcing destination, Vietnam will be a perfect fit for companies looking for a technological advance without having to spend a lot of money.
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