The revenues of Bulgarian companies operating in the outsourcing sector are expected to grow in double digits in 2021, after increasing by 11.2% in 2020, Bulgaria's Association for Innovation, Business Excellence, Services and Technology (AIBEST) said on Thursday.
Bulgaria's outsourcing sector generated 3.3 billion euro ($3.82 billion) in 2020, AIBEST said in its annual report, citing data from a SeeNews study. The report comprises data for 677 local companies engaged in information technology sourcing (ITO) and business process sourcing (BPO).
The sector generated 6.6% of Bulgaria's gross domestic product (GDP) in 2020, up from 5.5% in 2019, according to the report. In 2024, this share is expected to expand to 11.2% of GDP.
The industry reaffirmed its position as a preferred employer, as evidenced by the stable number of people working in the sector, around 77,000, AIBEST added.
"With the career start and career path opportunities that we offer, we achieve one of our key priorities - to regain and retain talent in Bulgaria," llia Krustev, Chairman of the AIBEST Managing Board and CEO of A Data Pro, said. "We continue to develop our partnerships with universities, local and state authorities because this is the way to maintain our sustainable growth and to develop the knowledge industry in Bulgaria."