Annual Industry Report 2024
2023 proved to be a challenging year marked by various difficulties and obstacles. Some of these challenges are persistent, carrying forward from previous years. Still, the companies operating in the Knowledge Industry not only proved yet again their resilience but seized the opportunities in these challenges!
817 Bulgarian companies
3 main segments:
- 25 companies in R&D
- 379 companies in BPO
- 413 companies in ITO
Analysis
All key indicators for the development of the technology and business services sector in Bulgaria:
- the industry's contribution to the Bulgarian GDP
- number of employees
- geodemographic profile of the industry
Forecasts
Bulgaria’s knowledge-based economy faces growing challenges, including a widening skills gap and political instability. However, the R&D segment stands out as a fast-growing area, attracting international investors and positioning Bulgaria as a regional hub.
The high-tech industry in Bulgaria
overview of the segmentation of companies along with the key trends
The report analyses 817 Bulgarian companies operating in business process sourcing (BPO), information technology sourcing (ITO) and research and development (R&D).
The year 2023 highlighted the resilience and adaptability of Bulgaria's Knowledge Industry. Operating in an increasingly competitive and dynamic global market, the sector reinforced its role as a key driver of the national economy through innovation and international growth.
Despite global challenges, the industry achieved a 10.8% increase in operating revenue, maintaining a double-digit growth trend, albeit slower than the 16.9% growth recorded the previous year. This robust performance underscores the sector's adaptability and reaffirms its vital contribution to Bulgaria's economic development.
The sector as an employer
a total of 104,404 full-time employees (FTEs)
The sector's workforce grew by 1% in 2023, compared to an 18% growth in 2022.
As of the end of 2023, Bulgaria’s total workforce comprised 3.064 million people, marking a 2% decrease compared to the previous year.
The report
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Our partners
This report owes its existence to the invaluable support provided by:
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