Nearshore
Nearshore refers to outsourcing to a country in a similar or adjacent time zone to the client, as opposed to offshore (a distant time zone). The trade-off is typically greater time-zone overlap nearshore versus a larger talent pool and lower cost in major offshore markets like India.
Nearshore outsourcing engages a team in a geographically close country - typically sharing a similar time zone - rather than a distant offshore location. For US companies, this commonly means Latin American countries. Nearshore trades some of the cost savings of far-offshore hiring (e.g., India) for greater real-time collaboration overlap, at the cost of usually a smaller talent pool than the largest offshore markets.