When a company moves their operations closer to home, this is an example of:

Nearshoring is the practice of relocating business processes or services to a nearby country, usually

one that shares a border or is in the same region1. Nearshoring can help companies reduce costs,

improve quality, and increase responsiveness to customer needs. Nearshoring is different from

offshoring, which is moving business processes or services to a distant country, usually to take

advantage of lower labor costs or favorable tax regimes2. Nearshoring is also different from

insourcing, which is performing business processes or services internally within the company3.

Nearshoring is also different from outsourcing, which is contracting out business processes or

services to a third-party provider, regardless of the location.