Ukraine Named Europe’s Top IT Outsourcing Destination

The recognition further underscores Ukraine's IT outsourcing and software development sector's rapid and consistent growth

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A report released by industry specialist AVenture Capital in association with Sourcingfocus has named Ukraine as the top IT outsourcing and software development destination in Europe.

The recognition further underscores Ukraine’s IT outsourcing and software development sector’s rapid and consistent growth, according to the report.

The sector has managed to weather extreme political instability, reporting double-digit growth figures over the years.

Read Also: Teleperformance Named As 2016 Global Outsourcing 100 Firm

Ukraine’s IT Engineering Workforce To Reach 200,000 by 2020

The report further reveals that Ukraine’s IT engineering workforce will double to reach 200,000 by 2020. It is currently the third biggest export sector in the country, with an export volume of USD2.5 billion.

The growing importance of IT for the Ukrainian economy can be explained by the conflux of a highly internationally-focused group of local IT companies, and the large sums of investment poured in the country for R&D development by global IT giants, the report added.

Read Also: Aegis In AIOP Global Outsourcing List for 6 Straight Years

Among the big players that have invested in Ukraine’s booming R&D sector are Cisco, Oracle, and Samsung.

At the moment, the US is by far the largest destination for Ukranian IT exports, representing over 80 percent of trade volume, the report said. – BPONewsDaily.com

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