Ranked #1 Outsourcing destination in Europe by A. T. Kearny
Ranked #9 Outsourcing destination in the entire World by A. T. Kearny.
"Gartner Top Countries for Offshore Services in 2010-2011" included Bulgaria on its list, one of only 5 EU countries to show up there.
After the bank crisis in the mid 90s, Bulgaria is enjoying political and economic stability. The country is a member of the EU and NATO with its currency, the Bulgarian lev, pegged to the Euro. The last few governments have been strongly pro EU oriented and implemented strict fiscal policies. Unlike many of its neighbors in Southern and Central Europe, Bulgaria has kept its foreign debt levels within healthy margins with a stable outlook by the major rating agencies.
Bulgaria enjoys a pro-business climate with continuously easing conditions. Both personal and corporate tax levels are set flat at 10%. In addition, Bulgaria has one of the fastest internet grids in Europe and a well-developed IT sector with highly educated individuals leaving the universities every year. Unlike many Western and Northern European countries, Bulgaria`s employment law is relaxed, allowing for some extra flexibility in the hiring process.
Bulgaria has a long lasting culture of high quality education in the tech sector. After the Second world war Bulgaria became one of the few technology hubs in Eastern and Central Europe, pioneering computer technology in the area. In present days, the country has over 47 universities and thousands of tech majors graduate every year. It wasn`t surprising when Brainbench ranked Bulgaria #8 in the world in its IT certified professionals category. Many top international technology giants chose Bulgaria for their backbone operations in Europe and have established major operations here (some but not all include Hewlet-packard, SAP Labs, IBM, VmWare, Siemens, Hostway and etc.)