The practice of sending outsourced functions of any sort,
whether IT-based or business process positions, to a nearby
country rather than choosing markets which are far away.

Nearshoring (also known as "nearshore outsourcing" 
and "nearshoring") means sourcing service activities to a 
foreign, lower-wage country that is relatively close in 
distance. Nearshoring is becoming competitive with 
outsourcing to farther areas since the recent rise of fuel 
costs.The customer expects to benefit from one or more of 
the following constructs of proximity: geographic, 
temporal, cultural, linguistic, economic, political, or 
historical linkages . The service work that is being 
sourced may be a business process or software development. 
As with offshore, the term "nearshore" was originally used 
in the context of fishing and other ocean-based activities 
and later adapted by the business world.