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News Room > Blogtitle_li=News > Bulgaria has the potential to grow its outsourcing market

Bulgaria has the potential to grow its outsourcing market

Xoomworks interviewed by country’s business press:

Xoomworks founder and COO Steve Jackson has been sharing his views on why Bulgaria remains a popular destination for outsourcing on the country’s leading business website Economy.bg.

Xoomworks Technology Outsourcing opened its development centre in Sofia, Bulgaria last year, providing nearshore teams to tech-driven companies in the gaming, travel and finance sectors.  Since opening, the Sofia office has expanded Xoomworks capabilities in application development and quality assurance.

Economy.bg charts the rapid rise of the outsourcing industry within Bulgaria, which last year saw year-on-year growth levels of 20 per cent. The country is now one of the top three global destinations for outsourcing, attracting global brands such as Coca Cola, IB, HP and Thomas Cook. Bulgaria won both the Best Outsourcing Destination in the European Outsourcing Association (EAO) Awards in 2015 and won Best Destination at the National Outsourcing Association of Great Britain (NOA) Awards in 2015.

The EAO will host its Leadership Summit & Awards 2016 in Sofia in October. Bulgaria received the Best Destination award on account of its rapid progress within the outsourcing market. The EAO added that businesses were also attracted to the country for its stable currency, the Bulgarian Lev, as well as low inflation rates and a 10% flat income tax rate.

Economy.bg talked to Xoomworks founder Steve Jackson on the popularity of Bulgaria with UK companies in an expanding outsourcing market. As well as Xoomworks, UK companies Mailjet and Experian have also located their main outsourcing facilities within the country.

“We chose to open our second Eastern European development centre in Bulgaria, because we were looking for excellent software developers,” Steve told economy.bg. “We’ve been here in Bulgaria for over a year and have not been disappointed. The quality of our staff is excellent, and salary levels are competitive.”

He added: “The organisational culture in the country fits with our businesses in the UK and Romania. Sofia has enough flights from the UK; the cost of opening a business were relatively low and our clients are impressed when visiting the city.”

Steve is also a Council Representative of the NOA. In its research paper, titled Outsourcing in 2020, the NOA revealed that 70% of organisations are set to extend their outsourcing business over the next decade and 35% of them plan to make significant expansion, putting Bulgaria in a position for sustained growth.

The NOA study also cites well trained technicians, EU membership and a favorable business climate for Bulgaria’s continued popularity.

 

If you would like to read the article in Bulgarian please click HERE

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