1. The relocation of business activity to a location in another country with lower costs
   "Nearly half of Europe's top firms plan more offshoring in coming years"

1. Move (an operation, division, service, etc) to another country, e.g. where operation is cheaper or regulations are more lax
   "The company decided to offshore its customer service department to reduce costs"

Derived forms: offshorings

Encyclopedia: Offshoring