In the last couple years Bulgaria has been ranked among the most attractive outsourcing destinations in the world.
Access to qualified workforce in Bulgaria
- Availability of highly skilled untapped talent in different areas, multilingual (about 95 % of the high school students study a foreign language like English, German, Spanish, Russian) and over 70% study a second language. With that being said, more than 55 000 students annually graduate the universities in Bulgaria).
Competitive labor cost
- Bulgaria has the most competitive costs of labor in EU
- For 2013 the average salary in the public sector in Bulgaria was 833 BGN or 425 Euro
- For 2013 the average salary in the private sector in Bulgaria was 788 BGN or 402 Euro
The most favorable tax rates in EU
- The income tax rate in Bulgaria is 10 % , which is the lowest income tax rate in EU
- The Personal income tax in Bulgaria is 10 % (flat rate)
- 0 % tax rates in the high-unemployment regions in Bulgaria
Other cost savings for doing business in Bulgaria
- Very attractive prices for renting offices and buildings
- Lower prices for utilities, compared to the rest of Europe
Bulgaria has political and economic stability
- Bulgaria is a member of the European Union, NATO and WTO
- Yearly inflation rate - 3.6% (2013)
- Unemployment rate - 11.8% (2013)
- GDP (yearly change rate in %) - 0.9 % (2013)
- Government debt 18.9% of GDP (2013), which is one of the lowest in EU
- Stable currency rate and no currency risk. BGN / Euro rate is 1.96. This rate is fixed.
Bulgaria has a strategic location and good infrastructure
- Bulgaria is a kind of bridge between Europe and Asia
- Good infrastructure: airports in Sofia, Plovdiv, Bourgas and Varna, main seaports: Varna and Bourgas and ports at the DanubeRiver
- Through Bulgaria are passing 5 Pan-European corridors ( IV, VII, VII, XI, X)
- Bulgaria is part of the Transport Corridor Europe-Caucasus-Asia (TRACECA) - an international transport program, involving the EU and 14 memberStates of the Eastern European, Caucasian and Central Asian region
Beneficial Import/export regulations
- Bulgaria is a member of EU and has zero tariff market within the EU region
- Bulgaria has zero tariff market with Turkey