The IT outsourcing industry raked in a revenue of just under $90 billion in 2018 and this figure is expected to increase in the year 2019, according to a recent Statista report. Undoubtedly, IT outsourcing is very lucrative and it is not surprising that governments of the countries in eastern Europe are leaving no stone unturned in ensuring a market-friendly atmosphere in the region. One of these countries is Belarus.
Why Belarus Makes the List of theCountries with Best IT Outsourcing Services
Global Reputation: not too long ago, Belarus broke into the list of the top thirtybiggest software outsourcing providers in the world. Currently, Belarus has aper capita of over $60 in computer services, making it to have a higher percapita than both India and the USA. A lot of top companies have identified thecountry’s potential and prefer Belarus to other Eastern European countries.Other merits of the country include government’s unwavering support for ITbusiness, zero percent corporate tax rates for Hi-Tech Park residents and alarge number of highly skilled IT experts which keeps on increasing at a highrate.
Skills:Belarus has been traditionally renowned to be a strong IT hub, even during theUSSR period when it was considered to be the Soviet Silicon Valley. After thedemise of the USSR, Belarusian engineers sprung up a lot of software companies.These companies have grown over the years and as of today, there are about 1000IT firms with over 3000 software engineers and IT professionals. This numberkeeps on increasing with the larger percentage of them 30 years of age. Theseyoung people bring enthusiasm and innovativeness to the table in addition tobeing highly reliable.
Cost Efficiency: the government of Belarus has contributed immensely to the growth ofIT outsourcing in Belarus by providing tax exemptions to IT companies. Firms inthe Hi-Tech Park initiative are exempted from paying custom duties,value-added, corporate and profit taxes. As a result of this, these companiesare capable of employing seasoned professionals at substantial hourly rates. Intruth, you would not expect these companies, with their highly skilledprofessional to charge cheap price but their rates are less than their UScounterparts.
European Perspective: IT experts from Belarus are highly respected by clients and peers fromother European countries. Belarusian tech experts are known to be pragmaticabout their task projections. They are also described as industrious,transparent and meticulous.
Favourable Geographical Location: Belarus is at the centre of Europe. It is notfar from the UK – it takes just about 3 hours to fly from London to Minsk –hence it is easy to hold personal, face-to-face meetings with your developmentteam if you are in Europe.
Viber and MSQRD Originated in Belarus: Viber and MSQRD are strong social mediaplatforms. Viber, which was built in 2014 and now has over 400 million usershas since been bought by Rakuten while the relatively new MSQRD has also beenacquired by Facebook.
Ever Expanding Market: The IT market is autonomous, unlike other industries in Belarus. TheIT sector keeps on waxing stronger, even when Belarus’ economy has generallydeclined.