Ukraine is the one of the two largest emerging markets in Eastern Europe. The significant benefit, which these countries managed to retain and develop, is their strong engineering and scientific base. The roots of this go back to the Soviet Union era, when emphasis on fundamental education and science were predominant. Currently in Russia in Ukraine, there are approximately 3,500 engineers for every 1 million people, the same ratio as in the United States. The technical skills of this work force often go beyond basic programming, and extend to complex science and engineering tasks.
Companies, both large and small, realize the potential of this highly effective resource.
- Ukraine is an emerging free market, with a gross domestic product that has experienced rapid growth in recent years
- Western-oriented government policies encourage partnership and close business ties with US and EU companies
- In 2008 Ukraine joined the World Trade Organization
- Ukraine now has the potential to be one of the region’s leaders in volume of foreign direct investment and portfolio investment
- In 2007 Ukraine had the highest IT industry growth rate among Central and Eastern European countries. Ukrainian IT market ranked fourth after Russia, Poland and the Czech Republic, with almost 40 percent growth and over $3,4 billion in volume, accordingly to IDC survey
- The USA, Germany, Poland, the UK, Japan, China, Russia are the main trade partners of Ukraine
Education in Ukraine
- Ukraine has a long standing reputation as major technology region, with a well developed scientific and educational base
- With only 1% of all world’s population, Ukraine has 6% of the world’s physicists, mathematicians, computer programmers, and other highly educated professionals
- More than 16,000 IT specialists with bachelor degree and about 14,000 IT specialists with master degree graduate from universities each year
- To bridge the gap between classical education and real business and technical process, outsourcing companies have partnered with leading universities to offer additional classes and labs for students
- Bologna process in higher education area.
Main Advantages of Choosing Ukraine as an Outsourcing Destination
- High-qualified specialists
- Strong educational and scientific schools in exact sciences
- Large pool of IT specialist
- Mature, stable and growing market of IT outsourcing services providers
- Openness of Ukrainian economy to foreign investment and international cooperation
- Geographically and cultural close to European consumers
- Comprehensive law on intellectual property protection
- Significant (up to 50%) savings on cost for high-qualified offshore specialists