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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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Bulgarian software industry has seen a steady double-digit growth through 2015, outpacing several times the growth of the gross domestic product for the year. The sector remains one of the fastest growing in Bulgaria with projected revenues of 1.601 billion levs for 2015.

Those were one of the most significant conclusions from the latest issue of the yearly survey of the Bulgarian Software Companies Association (BASSCOM) traditionally called “Barometer for the software industry”.

The report again uses the results of consultation with member companies and an analysis of the software industry in Bulgaria, prepared by an independent consulting company CBN - Pannoff, Stoytcheff & Co. on behalf of BASSCOM.

Revenues and share of GDP

The forecasts for 2015 is revenues in the sector to increase by 11%, reaching 1.601 billion levs. A year ago, in 2014 this indicator hit 1.449 billion levs, or 13% growth compared to 2013. Over 65 percent of the revenue of the software companies came from high-tech products and services export.

Growth in work places and compensations

One of the highest qualified and well paid specialists in Bulgaria work in the software sector, as the average compensation in the industry is four times higher than the average for the country. 7,8% growth of the number of the employees in the branch is expected in 2015 compared to 2014.

In 2015 it is estimated that the average gross compensation (wages + bonuses) on a monthly bases would reach 3 358 levs which is 8% growth on annual bases. In 2014 г. the compensation was 3 108 лв., which was 7% higher than the number in the previous year.

According to the official data, the purchasing power of a programmer in Bulgaria is aligned with that of British programmer.

In 2015 г. it is expected that the work places in the industry will exceed 17 000, and the number is growing annually by 6-10%. The share of the IT specialists in 2015 was 88% of all employees in the branch, and one third of them were women. Over 90% of the jobs were occupied by young people under the age of 35.

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