Young, motivated and international: The untapped potential of outsourcing in Romania
Romania’s rich and vibrant culture has nurtured a talented generation of highly skilled graduates looking for work. The country is attracting top companies from around Europe who are looking for the best possible market in which to meet their outsourcing needs.
According to The World Bank, Romania’s economic prospects look good across a number of factors.
“Romania’s growth was strong in 2019 at 4.1 percent in a context of subdued activity in the EU. Private consumption, up 5.9 percent, was the main driver of growth, supported by wage and pension increases. Investment rose strongly, growing at 17.8 percent year-on-year, owing to strong performance in construction. Construction (up 16.8 percent) and information and communications technology (ICT) (up 8.1 percent) were the main drivers of production.”
The Romanian economy has gone through an extraordinary transformation since 1990, moving from heavy industries to services. Wholesale and retail trade services have made up a big chunk of growth recently, which is in part due to strong local demand. The ICT sector has been one of the biggest contributors of Romania’s growth – it is in the top 10, as a share of GDP, in the EU.
We believe Romania could be the next big thing when it comes to IT services and want to help organisations tap into the 300,000 strong workforce looking to help them grow. Perhaps overlooked in the past, it is a country that offers a wealth of talent, cultural knowledge and expertise in a range of business disciplines, as well as an economy that looks promising.
Romania is a rising star, and consistently performs highly when compared to other ‘nearshore’ options like the Czech Republic, Latvia and Ukraine. So, what is it that makes Romania and its workforce so appealing? Here are seven reasons to consider the country for your next outsourcing project:
- Perfect timing: a time zone of +2/3 GMT means the same working hours with Western Europe and compatibility with the East Coast USA or Asia.
- They speak your language: most young Romanians speak great English; some also speak German and French. Their multilingual talent is impressive in comparison with the rest of Europe.
- Education, education, education: IT studies and computing at Romanian universities are exceptional and highly regarded. The high quality of the Romanian education system means Romanian professionals are able to meet the increasing expectations of companies from across the world.
- Work hard, play hard: Romanians have an excellent work ethic, with a real determination to succeed.
- Less taxing: Romania has implemented tax incentives for IT companies to operate in their territories, making it a very attractive market to operate in
- Prime Location: Romania sits across three pan-European transport corridors, where the EU meets the Balkans and Commonwealth of Independent States
- Solid foundations: Romania has been a member of NATO since 2004 and of the European Union since 2007
The decision to outsource work isn’t to be taken lightly, but we think Romania offers a really compelling option for companies who want to ensure that the teams working on their services understand the culture and complexity of what they do. Whether you’re in banking, insurance, financial services, technology, telecommunications, professional business services or industrial and consumer goods, the services provided in Romania will be an excellent fit. Want to find out more? Get in touch! We’d be delighted to arrange a chat about the services we offer, and how we can help your company take the important step of outsourcing, saving you money and increasing your efficiency. Click here to arrange a call contact or simply +40 728 932 646