Bulgarian BPO / LPO Sector Overview
"In 2015, Bulgaria is the best outsourcing destination in Europe, and is ranked 3rd worldwide for Business Process Outsourcing (BPO) and shared services..."
(Cushman & Wakefield rating, 2015)
FACTS & FIGURES
Bulgaria is amongst the top BPO destinations in the world for various reasons:
- Bulgaria enjoys political and economic stability as an EU, NATO and WTO member.
- The Bulgarian lev (currency) is fixed to the Euro.
- Low costs of doing business in the country.
- Clients in Western Europe, Asia and North America are served from the BPO sector in Bulgaria - the majority being Fortune 500 or Fortune 1000 Co/s.
- The average BPO company operating in Bulgaria provides services in > 25 EU and other languages.
- Bulgaria is strategically located and provides access to different markets, as follows:
- South-East Europe - a 122 million inhabitant, high growth market.
- European Union - Bulgaria offers the lowest cost access to a market of 500 million consumers.
- Russia/CIS, Middle East and North Africa
The Bulgarian LPO sector and the BPO industry as a whole have significant growth potential:
- About 60,000 students graduate annually from all Bulgarian universities. About 50% of the graduates obtain degrees in majors suitable for the needs of the BPO industry, including the LPO sector.
- Bulgaria has a high scale asset of a large number of law graduates annually, having excellent multilingual capabilities. This allows us to scale and have the capacity to manage numerous global engagements in all EU languages, as well as in other languages like Russian and Turkish.
- Estimated 80,000 Bulgarian students study abroad and present a major labour source for BPO, including LPO, companies in Bulgaria.
- Lower cost base through labor arbitrage. Costs of doing business in Bulgaria are the lowest in Southeast Europe. Cost of labour and real estate are likely to remain low in the med-term. You achieve great cost savings in support functions while enjoying engaged talented workforce with very good functional knowledge.
- Bulgaria has a very well developed Internet infrastructure: ranked the 7th fastest place in the world by both household download and upload speed according to Netindex.
- Same time zone, Identical social habits and working attitude as clients.