Yes, offshore software development remains cost-effective despite rising global wages. While labor costs have increased in many countries, offshore development still offers significant savings compared to hiring in-house teams in high-income regions. Additionally, access to a larger talent pool, quicker scalability, and reduced overhead costs contribute to its value. An offshore software development company also provides flexible engagement models and high-quality services, making them a practical choice for startups and enterprises aiming to optimize costs without compromising on quality or project timelines.