UK reshoring set to create up to 200,000 new jobs in a decade
BRITISH businesses bringing jobs back from overseas could see the creation of up to 200,000 new roles in the UK over the next decade, PwC predicted yesterday.
The growing trend for reshoring jobs once outsourced overseas could boost the nation’s wealth by between 0.4 per cent and 0.8 per cent – roughly £6bn to £12bn over the next 10 years in today’s values.
PwC chief economist John Hawksworth said: “This trend to reshore is still at a very early stage, but our analysis suggests that the impact on jobs and output could build up gradually to material levels over the next decade or so.”
The shrinking wage gap between the UK and China and a desire by firms to move closer to customers are driving the trend, PwC said.