Bulgaria's software sector registered a growth of 5.3% in 2010 year-on-year, according to a survey unveiled by the Bulgarian Association of Software Companies (BASSCOM). The survey was carried out by GOPA Consultants, a German consultancy, and surveyed 38 companies that are members of BASSCOM, the Bulgarian Web Association and TechNews.
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The sales of the 38 firms in question grew by 8% in 2010 compared with 2008, while in 2009 they grew by 2.6% compared with the previous year. The combined volume of sales of the 38 Bulgarian software developers reached BGN 163.3 million in 2010. The businesses in question have a total of 2489 employees.
Bulgaria's National Statistical Institute reports that the IT industry employs 7995 people in Bulgaria and has a total turnover of BGN 428.8 million so the survey has encompassed about one third the Bulgarian software development sector.
Asked to comment on the report, Georgi Brashnarov, Chair of the Governing Board of BASSCOM said, "The stable growth of the Bulgarian software companies and the fact that 50% of their sales are made abroad indicates that the sector has matured and now has the potential to be one of the major engines of the Bulgarian economy."
"Salaries in the software development sector in Bulgaria have seen growth in the recent years, .." he continued, ".. and it should be noted that 74% of the firms that participated in the survey have Bulgarian majority owners, 13% are owned from entities based outside Bulgaria, and another 13% are subsidiaries that work solely for their parent company. The survey has also identified a stable 50/50 division between software sales in Bulgaria and sales to foreign clients".
Further findings from the report include ...
* about 60% of overseas sales go to Europe, with 35% to North America.
* the share of high-value added software products grew from 25% in 2008 to 28% in 2010.
* the number of employees in the sector remained the same in 2008, 2009, and 2010, and the salaries saw a year-on-year growth of 5.9% in 2009 and 2.3% in 2010
* 81% of the respondents in the survey expected some growth of sales in 2011, while 54% expect a growth of up to 15%.
* 70% of IT firms expect to hire more employees, and 87% of the companies plan to increase the salaries of their IT experts.
The survey concludes that further development of the IT sector will be influenced primarily by the local and global economic situation and by the human resource factor.
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Bulgaria's National Statistical Institute reports that the IT industry employs 7995 people in Bulgaria and has a total turnover of BGN 428.8 million so the survey has encompassed about one third the Bulgarian software development sector.
Asked to comment on the report, Georgi Brashnarov, Chair of the Governing Board of BASSCOM said, "The stable growth of the Bulgarian software companies and the fact that 50% of their sales are made abroad indicates that the sector has matured and now has the potential to be one of the major engines of the Bulgarian economy."
"Salaries in the software development sector in Bulgaria have seen growth in the recent years, .." he continued, ".. and it should be noted that 74% of the firms that participated in the survey have Bulgarian majority owners, 13% are owned from entities based outside Bulgaria, and another 13% are subsidiaries that work solely for their parent company. The survey has also identified a stable 50/50 division between software sales in Bulgaria and sales to foreign clients".
Further findings from the report include ...
* about 60% of overseas sales go to Europe, with 35% to North America.
* the share of high-value added software products grew from 25% in 2008 to 28% in 2010.
* the number of employees in the sector remained the same in 2008, 2009, and 2010, and the salaries saw a year-on-year growth of 5.9% in 2009 and 2.3% in 2010
* 81% of the respondents in the survey expected some growth of sales in 2011, while 54% expect a growth of up to 15%.
* 70% of IT firms expect to hire more employees, and 87% of the companies plan to increase the salaries of their IT experts.
The survey concludes that further development of the IT sector will be influenced primarily by the local and global economic situation and by the human resource factor.
Related articles:
More Positive Economic News - Boom in Electric Cars
More Positive News in Bulgaria's Retail Property Sector
More Positive Economic News - Airport Passengers Climb
More Positive Economic News - Car Sales Rocket
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