July 3, 2014
This can be attributed to the fact that the Nearshore software development Romania industry competes favorable with traditional outsourcing giants. On the metrics of employee attrition, infrastructure, federal incentives, cultural gaps, wage inflation, innovation & invention, entrepreneurship and educational quality; Bucharest is indeed turning to be a globally acclaimed landing zone for software vendors and large organizations.
In the early stages of global outsourcing, Romania evolved as a key factor for call center services, hosting a wide scope of operations on behalf of overseas companies. This evolution has gradually encroached to other service areas, finally reaching its peak in software engineering. Without diving into the forensics of a full market and demographics study, here are the compelling factors that make the Nearshore software development industry in Romania something to watch for!
Joined the EU
The country entry into the European Union acted as a catalyst factor towards fueling interest in the nearshore software development Romania industry. Additionally, Romania’s population, ranked the 7thlargest in the European Union, makes a reliable outsourcing destination. More so, the country is ranked the 9th largest by area in the same trade block. Over 1.7 million inhabitants live in Romania’s capital, Bucharest, embodying a diverse and vibrant work culture.
High IT Penetration Rate
Romania boasts a high IT penetration rate amongst its population, a condition that has laid the groundwork for an immensely talented labor pool. Currently, there are more than 100, 000 IT practitioners and specialists in the nation, including high creative, innovative software architects. More so, the top five Information Technology and Communication educational institutions in the country contribute over 8, 000 graduates to the labor pool every year. This wide distribution and high penetration of IT&C knowledge amongst the population makes Romania a top destination for application development outsourcing.
Romania boasts an immensely talented workforce, making it an attractive option for nearshore software development and outsourcing. In 2012, Romanians won gold medals at the 2012 Math Olympiad. More so, the country secured the first slot in Europe and the 10 among 100 nations of the world. After the competition, unofficial ranking buffs placed Romania ahead of Koreans, Chinese and Americans. The country also performs excellently in the International Olympiad in Informatics, making it a leading talent farm among many software engineering firms targeting the European market. This way, the nearshore software development Romania industry has a rich source of talented brains to leverage.
Proximity, A Multi-Lingual Population
The nearshore software development Romania industry is both linguistically and geographically proximate to the needs of European clients. For once, Romania has been ranked the second most multilingual country in Europe, boasting a fluency rate of more than 80% in English in the IT sector, coupled with a couple of other circulation languages. The skilled technology workforce in this country also happen an attractive nearshore option for Western European businesses, especially considered the cultural compatibility and similar mentality!
At a time when most European clients are foregoing traditional outsourcing locations and moving towards Eastern Europe, outsource application development Romania will continue to be a major prospect.