BREXIT has been in the news a lot lately and as is often times the case there are real life consequences which will only materialize years down the road.
Not so this time...Canalys, a provider of market intelligence for the IT environment (besides other things) estimates that UK IT spent will be reduced by about 10 % this year and in the same range and possibly greater in 2017.
Reasons cited are an unwillingness to commit resources during a period of high uncertainty, the continued devaluation of the pound (making it more expensive for UK companies to procure services) and the potential need to locate operations away from the UK into the European Union.
Given that the current outsourcing spent in the UK is somewhere between 90 to 100 Billion pounds we are not talking about a small number here.
The outsourcing sector considers itself to be immune against economic dislocation. The numbers though speak a different language.
Assuming that the foretasted slash in outsourcing spent are an indicator for other industries the overall economic impact on the UK might be a bit more severe than the average UK citizen had thought originally.