FREQUENTLY ASKED QUESTIONS
Why nearshoring in Serbia?
Serbia is well placed both geographically and structurally to provide a cost effective and reliable alternative to other, already established markets. An outstanding pool of intellectual capital, attractive labour costs, excellent worker skills, a good communications network and a high fluency in English are just some of the key competitive advantages that have already attracted international software companies to expand to Serbia.
- Population: with approx. 8 million inhabitants one of the largest countries in the region
- Geographic Position: South East Europe
- Capital: Belgrade with approx. 3 million inhabitants
- Time Zone: GMT+1 – same time zone as Zurich, Berlin, Vienna, Stockholm
- Airport: Belgrade, reachable in less than 2 flight hours from most European cities
What are the special locational advantages of Serbia?
- Large talent pool – Natural sciences are traditionally very popular in Serbia. Around 4’500 engineers graduate from a Technical University each year. Government subsidy programmes and investments support this trend also in the future.
- Good availability – There is no distinct “War for Talent” in Serbia yet, so the availability of highly qualified software developers is much better than in Western Europe.
- Easy coordination – The same time zone, similar cultures as well as a comparable working attitude guarantee an efficient collaboration.
- Communication – Above average English skills enable easy communication.
- Competitive costs – Labour and operating costs in Serbia are significantly lower than in Western Europe. We pass this substantial cost advantage directly on to our clients.
- Geographical proximity – Belgrade can be reached from the most major Western European airports in less than 2 hours (flying).
- High Mobility – Serbian citizens can travel to the Schengen area without visa. Similarly, entry into Serbia for foreign citizens is also visa-free.
„Serbia is becoming one of the Europe’s most attractive IT hot spots. An outstanding pool of intellectual capital, attractive costs, a skilled workforce, a good communications network, and a high fluency in English labor are just some of the key advantages that usually attract international companies to expand ICT businesses in Serbia.”
Why is the Serbian human capital interesting for the IT industry in particular?
- IT education: Natural sciences are traditionally very popular in Serbia. Among university graduates, technical schools rank No. 1 with a share of approx. 33%. Leading and internationally recognised institutes are for example the faculties: „School of Electrical Engineering“ or „School of Mathematical Science“ in Belgrade.
- IT-Expertise: The IT industry employs highly skilled workforce, out of which approx. 85% completed a university level education. Serbian engineers are competent in a broad range of technologies that support an effective development of first-class software.
- Foreign language knowledge: Serbia has the highest percentage of English speaking working population (49%) in the SEE region. English and a second foreign language, mostly German, are mandatory subjects throughout primary and secondary education in Serbia. English, German and or French are also mandatory modules at colleges and universities.
How is the Serbian IT sector developing?
ICT is the most vibrant sector in Serbia and with a two-digit annual growth rate the fastest growing sector in Serbia. According to recent figures, the county is becoming market leader in the Adriatic region with regard to the volume of provided IT- and software development services. Strong growth rates are being recorded in the development of mobile- and web applications, software engineering, testing and in solutions in the field of embedded software. The largest markets for Serbian outsourcing companies are Germany, USA, UK and Netherlands.
Which software giants are already in Serbia?
Many leading global IT companies already have an own nearshore development center in Belgrade, Serbia:
- Hewlett Packard
- Cisco Systems
“Serbia has great potential in the IT industry, that is why the world’s biggest software company decided to open a development centre in Belgrade.”
Mr. Christopher Brennan
Central Eastern Europe General Manager,
“It’s not a coincidence that Intel opened its regional office in Serbia. It has a great strategic position and a capable and well educated workforce.”