When U.S. President Barack Obama was just campaigning several months ago, he gave an impression that  he is anti-outsourcing although the business process outsourcing (BPO) industry is hoping for the best, that the elected president will mean better trade ties.

BPO analyst firm Nelson Hall released a comprehensive BPO market study entitled “Global BPO Market Forecast: 2008-2012”, the study forecasts the growth and trends in BPO services globally by service line and geography. Nelson Hall forecasts the BPO market to reach $450 billion by 2012. The study reveals that economic conditions will speed up globalization, with organizations not only using offshore outsourcing to reduce costs but also hasten their development capabilities in emerging markets to take advantage of growth opportunities.