Belarus can contribute to filling the global gap of talent in software development, the new “Software Development in Ukraine, Poland, Belarus, and Romania” claims.
The report mentions Belarus among European tech talent goldmines, Emerging Europe writes.
The growth of the global IT services sector is highly dependent on talent, the report Software Development in Ukraine, Poland, Belarus and Romania by AVentures Capital, Aventis Capital and Capital Times claims. At present, there is a gap between the required and available pool of developers.
The four countries covered by the report are all in a position to fill that gap on a global level.
When it comes to Belarus, the report describes the IT ecosystem in Belarus as a dynamic combination of R&D centers, product companies, and investors.
60.5% of Belarusian IT professionals are engaged in software development outsourcing services.
“Along with other high-tech countries, Belarus is becoming a software development service provider with a well-established history of serving international and foreign client companies. The country shows significant potential, which will develop even further in the coming years,” Ilya Soloducho, director at Capital Times Investment Company (Minsk), is quoted by Emerging Europe.
Competitive on the global level
While Ukraine, Poland, Belarus, and Romania present a fraction of the Chinese or Indian software development market, they make up an enormously competitive hot spot, exporting 13 billion US dollars worth of services in 2018.
The report looked at over 700 companies operating across the four countries.
Their IT service and R&D markets are growing 4-5 times faster than the global average (20-25 % annually against 5%) with the US and EU being the main markets. Ukraine, Poland, Belarus, and Romania are home to over 560,000 IT professionals and growing, with over 200 universities and over 60,000 IT specialists graduating each year.
With lower operating costs compared to other countries in Western Europe, this makes the sector a hot spot in mergers and acquisition (M&A) activity. The region saw over 70 M&A transactions between 2015 and 2018.
The growth will continue, the report claims.
Source: Emerging Europe
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