US corporations are looking to destinations such as Toronto, British Columbia and Novia Scotia, according to Atul Vashistha, chief executive of US-based outsourcing consultants Neo IT. By the same token, Ireland could benefit from near-shoring by British businesses.

In a recent interview with the Sunday Tribune, Denis Creighton, chief executive of call-centre specialist Conduit, said "a lot of work is coming back onshore in Ireland and the UK". That is particularly the case for customer service operations, he said, which have found that low-cost destinations such as India do not meet their requirements.

According to Vashistha, near-shoring reflects a desire to reduce costs by locating in countries with favourable tax regimes or low labour costs but also with a common language and similar culture.

Although its cost advantages have been eroded, Vashistha said Ireland continues to be attractive because of its stability and its status as a "mature" location.

"If a company made its entire bet on Ireland today, compared to ten years ago, they would find themselves in a disadvantageous position because the labour pool is limited. A lot of companies started to outsource to Ireland and the area became very expensive, " he said.

Neo IT, however, lists Dublin among the top mature destinations for outsourcing, along with Delhi and Bangalore. Ho Chi Minh City, St Petersburg and Dalian in China are increasingly popular.

George Bennett of the IDA said he wasn't too surprised by Neo IT's list. "We position ourselves as high quality, medium cost, low risk, " he said.

NEO'S TOP TEN OF OUTSOURCING

Bangalore Delhi Dublin Toronto Monterrey Ho Chi Minh City St Petersburg Dalian Moscow Singapore