The Economist recently wrote about the "workforce in the cloud" and how the global mobile workforce is being tapped by online talent marketplaces like Elance.com and oDesk.com. This has allowed professionals worldwide to compete globally for work and has saved businesses money. Last year, the value for this online work topped $1 billion for the first time and is expected to reach $5 billion by 2018.
These exchanges are providing opportunities to build businesses without borders. The Guardian reported that a start-up firm, Boutique London Lets, which rents luxury apartments to international business travelers and tourists, has tripled turnover every year for the last three years. The firm used online talent marketplaces to help with recruitment, was able to expand to separate London and Manila offices, and used the “workforce in the cloud” to handle their communications. The owner can keep control of the business while traveling and visiting prospects and staff. The company also uses e-mail, video conferences, online groups, and instant messenger to train staff and is exploring how to create an internal social media network for sharing informal staff interactions.