Bulgaria is becoming a top outsourcing destination

Low costs, fluency in languages, membership in the European Union and IT are making Bulgaria a prime location. The Bulgarian outsourcing and information technology industries are one of the fastest growing in this country. Arguably, for the last 15 year, these industries have enjoyed consistent growth combined with a lot of educational efforts from local companies. According to European Information Technology Observatory (EITO), the Bulgarian IT industry has been enjoying at a two-digit growth rate, and there are no signs that this growth will slow down anytime soon. The outsourcing is also doing very good – Bulgaria is the world’s ninth “most preferred” outsourcing destination in consultancy A T Kearney’s 2014 Global Services Location Index. The only European country to command a place in the top 10.

It is important to note that Bulgaria is the also the only Southeast European country to be as one of the most competitive countries in the IT Industry Competitiveness Index 2011.

Arguably, Bulgaria also one of the leading countries with a high number of top Multinational ICT corporations in Eastern Europe. Among these multinational corporations are HP, SAP, Progress, VMware, CISCO, Microsoft and Atos among others. Combine all this with a flat tax rate of 10%, EU membership, stable economy, cost effective operations and fluency in a high number of languages and you will start seeing the big picture.

Naturally, all these factors make Bulgaria a prime outsourcing destination not only for software development but also for tasks like content and data management tasks, business intelligence, research and even creative work.

We at InfoSource are proud to be an essential part of this vibrant and growing ecosystem. Send us a message if you are interested in more information on the subject.

Sources:
Financial Times – https://www.ft.com/content/6319afee-ffdb-11e4-bc30-00144feabdc0
EDUKWEST – http://edukwest.eu/bulgaria-europes-silicon-valley/