Bulgaria's IT Sector Grew by 5.3% in 2010 Y/Y - Survey

Bulgaria's IT Sector Grew by 5.3% in 2010 Y/Y - Survey

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 and the Bulgarian Web Association, TechNews reported.

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 the sales of the 38 Bulgarian software developers reached BGN 163.3 M in 2010. The businesses in question have a total of 2 489 employees.

TechNews points out that the survey encompasses about one third the Bulgarian software development sector because according to data of Bulgaria's National Statistical Institute, the industry employs 7 995 people in Bulgaria and has a total turnover of BGN 428.8 M.

"The stable growth of the Bulgarian software companies and the fact that 50% of their sales are realized abroad indicates that the sector has matured long ago and has the potential to be one of the major engines of the Bulgarian economy," Georgi Brashnarov, Chair of the Governing Board of BASSCOM is quoted as saying.

In his words, the salaries in the software development sector in Bulgaria have seen growth in the recent years.

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 concluded the trend for a 50/50 division between the software sales in Bulgaria and the sales to foreign clients is stable. (Source: Sofia News Agency)

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