In the IT industry, outsourcing across the globe is a vital part ofgrowth and development. One rising star in the industry is a country once mostknown for its agricultural and chemical work, which is now taking great stridesinto computer technology and telecommunication: Bulgaria.
Bulgaria has become one of the top destinations for outsourcing withinEurope, especially for projects such as:
- Mobile apps
- Learning Management Systems
- Windows apps
- Software dev
- Custom content
Consulting firm AT Kearney places Bulgaria as ninth out of the top fifty countries in the entire world for IT outsourcing, and it is the only European country to enter the top ten as of 2014. The country has gained eight points since the last consult in 2011, for positive gains in three categories: finances, skillset availability, and business environment.
- Debt: Bulgaria’s lowering of their national debt, and their retention of economic growth continues to improve.
- Enhancements: 2015 Doing Business Report placed Bulgaria thirty-eighth out of one hundred and eighty-three countries for monetary and business procedures and improvements.
- Well-rounded: Bulgaria’s education system is well-maintained and covers comprehensive schooling for all. There is a focus on fundamental skills as well as employability skills, meaning many students have accomplishments in IT before they even join the workforce.
- Languages: A majority of the Bulgarian workforce is bilingual or multilingual, with only 2% of students not studying a single foreign language and only 27% pursuing less than two.
- Geographical knowledge bases: IT support is Bulgaria has useful local databases, producing experts in each programming field. Though only 5% of the IT industry is currently outside the capital, it is rapidly spreading.
Business Environment Advantages
- Location: Bulgaria’s central position in Europe, bordering five different countries, allows it to absorb knowledge and culture from various sources. The country is, therefore, more able to adapt to a global market than more isolated equivalents.
- Low debt: Bulgaria’s EU debt is significantly reduced, coming in second-lowest overall at 17% of GDP.
- Time zone: Placement of the country also allows better management of global timezone issues.
Private and public companies in the following countries, as well as manymore, are already outsourcing much of their IT industry work to Bulgaria:
Bulgaria offers unique opportunities for company growth and development,of which these and many other countries are ready to take advantage – includingprojects from the UK government!
In Cushman & Wakefield’s ‘Business Process Outsourcing and SharedService Location Index’ report, Bulgaria is third top in the land advisory. Allof that means that now is a better time than ever, if you are looking tooutsource or even start a new IT project, to look towards Bulgaria for theanswer.