Our 7 reasons why Bulgaria is a top outsourcing location
21 Oct 2016
Read below why it was recognized as the top offshoring destination in Europe
Eastern Europe is solidifying its reputation as the go to place for quality outsourcing, with Bulgaria getting a special recognition as the winner in 2015 European Outsourcing Association Awards (EOAA) in „Offshoring Destination of the Year“category. This was announced during an official EOA (now GSA) Awards ceremony on October 8, 2015 in Lisbon. For more details about the Global Sourcing Association and their recent event in Sofia, please click here.
Here are our seven reasons why you should definitely consider Bulgaria, when looking for a great quality outsourcing destination.
Location, Location, Location: Bulgaria is situated in Eastern Europe in timezone UTC+02:00, which puts it at similar time belt with Europe, Middle East and Africa. All major European cities are 1.5 to 3 hours plane ride away and easily accessible. There are numerous direct flights with Russia and Middle East. Istanbul is only an hour flight away and it an easy way to arrive for interested parties from Asia. Direct flights from the capital Sofia to New York and Chicago are scheduled to start in 2017, but until then the best access is through all major European airports. Tourism is well developed and most major hotel chains are represented, as well as worldly restaurants and decent public transport.
- Skilled labor: Western style education, traditions in software development and programming are just some of the draws. 20% of the population have college degrees and nearly 44% are high school graduates according to the Bulgarian National Statistics Institute.
Costs: High-skilled IT specialists are present in Bulgaria traditionally, with ‘outsourcing employees’ wages lower compared with Western and Central Europe, but allow a better quality of life than most sectors. Also recently Sofia was declared one of the top places to live abroad in 2016 by the Huffington post, one of the major assets being an affordable, yet modern city.
Availability of office space: After the end of the Soviet Union, Bulgaria underwent a rapid economic and social change. There was a significant boom in dedicated office building construction in the past 15 years and at present there are numerous possibilities for office space, ranging from brand new, state of the art, high rise buildings to more modest but extremely affordable offices.
Government support: The Bulgarian government recognizes that about 4% of the GDP of the country and support the sector with numerous incentives to advance further the development prospects of the IT sector.The country is politically and economically stable and as a member of the EU shares the same founding principles.
Culture and language: The Bulgarian state was officially recognized as a such in 681 AD. and if you are a history buff, there is much to see from Roman excavations, early Christian churches and more contemporary Soviet era monuments. Bulgarian is the official language, but for decades foreign languages have been heavily emphasized in schools, with English, German, French, Spanish and Russian being the most popular.
- Some major players are already here: HP, Concentrix, Telus, Experian,TeleTech and more already have already set shop in Bulgaria.