I was speaking to a couple of people last week and incidentally the same topic came up during our discussion. And I presume when you wrote "outsourcing" you really meant "offshoring" because outsourcing has been there for years now but those were delivered by service providers' team in-country.

Having a view from the trenches, I would say that there will definitely be an impact on the way youngsters should look at opportunities in IT. However there are areas where offshore based providers would need employees in-country in the states and back at their delivery locations for specific activities. Most of the the large Indian IT companies today boast of 10-15% of employees being non-Indian. Further, close to 30% of their total workforce (Indian and otherwise) is located outside the offshore locations.

So, true the opportunities and their nature will change but there will some news ones that will open up. Willingness to travel and relocate (outside country) will be a great plus as work and workforce now move around the global village.