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COMPUTERWORLD | Articles | ICT Watch 2016
26 Apr
2016
 
 

Bulgarian Software Business Reached 1.6 Billion Levs in 2015

With four times higher wages than the national average, the software branch is the highest paid sector of the Bulgarian economy

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The figures show that the IT sector is among the most sustainable in the country and marked an annual double-digit growth in all indicators discussed. The trend of refocusing of companies activities from „coding“ at the first years of the development of the sector to participation in all the phases of the contemporary software production – analyses, design, architecture, implementation, quality assurance, support and development, continues.

Problems and expected measures for support of the sector

Except the two-digit growth, marked by the software companies in the last few years, there is a visibly increasing interest at Bulgaria as an attractive destination and regional innovation hub for potential foreign investors, thanks to favorable conditions for doing business in the sector.

"The software sector reached 1.86% of GDP of Bulgaria for 2015 and is one of the fastest growing sectors in the country with an expected 12.8% growth in revenues from exports."

In the last few years, the natural growth of the sector was hindered because of the inability of the educational system to ensure the necessary number of qualified professionals, and not just in IT. There is almost not modern business activity which is not connected in one way or another with the introduction and use of high technology. The fact is that one job in the software industry is a factor for the opening of several jobs in other sectors, thereby also affects the reduction of unemployment and the rising of the living standards of employees.

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