Outsourcing to Serbia- Hire the best for a reasonable price

''Strong technical and scientific curriculum in Serbian universities, extensive cooperation with Western companies throughout the years, low labor costs and European work culture have been the key factors for IT industry expansion, and a large number of outsourcing hubs in Serbia.''

pic: Travelpedia

· HOW IT ALL STARTED

Between 2004 and 2008 Serbia was one of the fastest growing economies in the world, with an average BDP growth rate of 6.8%. The services sector (telecommunication, retail trade and banking) contributed greatly to this growth of BDP. Information technology, along with education has been recognized by the government as the most important development factor. With that in focus, various IT development measures have been implemented in Serbia, which stimulated larger IT investments.

As the global IT market continued to expand, the need for outsourcing hubs has also grown. Serbia, with its good geo location and reliable alternatives has offered foreign companies the opportunity to expand. Starting from 2010, some of the biggest IT companies from the US have established their development centers in Serbia, while the others outsourced some of their departments here.

Serbian IT sector exports amounted to around 678.3 million EUR in 2015 and net exports to 317.4 million EUR. This ranked Serbia 50th on the list of biggest software exporters globally, with the average IT sector yearly growth rate of 25.5%.

On the state level, the IT Council led by Minister of Public Administration and Local Self-Government, has implemented The Strategy For Development of Information Technology Industry 2017-2020. According to this plan, investors are granted with various benefits.

pic: clickatlife.gr

· OUTSOURCING

Talking about simple programming services, Serbia can’t offer as low prices like India or China, but if you need highly educated professionals specialized in specific IT areas, than you should definitely think about starting a pilot project in this country. Also it is important to mention that there are no language barriers and most of the local IT specialists have excellent knowledge of foreign languages.

Therefore, all enterprises that are thinking about outsourcing or relocating can choose from a large pool of experts and highly skilled professionals. This is what makes outsourcing to Serbia an excellent opportunity. You simply hire some of the worlds best for a reasonable price.

Also, in 2011 direct foreign investments totaled USD 2.71bn, making Serbia the best performer in Southeast Europe.

The countries stable business conditions, EU legislation compliance, attractive tax incentives, low tax rates, and very reasonable labor costs have attracted a lot of international mid-sized companies and corporations to outsource some of their departments here.

Belgrade, the capital has also been identified as one of the world's rising start-up hubs and the country is growing to be among the premier investment locations in Central and Eastern Europe. The city has been rated as the ‘’City of the Future’’ for Southern Europe in 2007 by FDI Magazine’s criteria on: economic potential, cost effectiveness, human resources, IT and telecommunications, transport and overall quality of life.

pic: Energoprojekt

· LIVING IN SERBIA

Thanks to the proximity of Western Europe, the convenient location reduces the time needed for travel as well. Almost all European airlines fly to Belgrade, which facilitates the organization of travel, and Belgrade has many affordable hotels that charge less for the same quality of service found in most world capitals. There are no visas and everything is safe. The borders are open, safety is certain, and hospitality, which is deeply rooted in Serbian culture, will make you enjoy your business trips to this country.

>Corporate tax: 15%.

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· FACTS ABOUT THE CAPITAL:

>Excellent value in a diverse, international city with a worldwide reputation for innovation.

>Air connections: Belgrade Airport biggest traffic in South East Europe.

>Cost: Extremely reasonable and affordable when put up against other European cities.

>A large number of hotels and restaurants, as well as reasonable accommodation and food costs are some of the reasons why Belgrade and Serbia are visited by the growing number of foreigners each year.

>What to expect: Low prices, a great pool of talent, a thriving start-up scene and a very rich culture.

pic: Novi Apartmani

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