site.btaICT Industry Companies to Generate 11% of GDP in Bulgaria in 2016 - Experts

ICT Industry Companies to Generate 11% of GDP in Bulgaria in 2016 - Experts

Sofia, January 4 (BTA) - In 2016 over 10,000 companies in the ICT industry sector in Bulgaria will generate approximately 5,500 million dollars of revenue. This will amount to 11 per cent of GDP and a year-on-year growth of about 5 per cent, the independent CBN Pannoff, Stoytcheff  & Co. agency forecast.

CBN sees the best chances for growth in the development of applications, telecom equipment suppliers, IT distribution and contact centres.

CBN expects that in 2016 the telecom business will stabilize its revenues and there will probably finally be a slight growth, additionally fuelled by the change of ownership of Vivacom and Blizoo Media and Broadband.

This year will witness a higher rate of development of the so-called cloud technologies, mobile applications, e-shops and business software.

The analysts expect establishment of the leading position of smartphones in the mobile devices trade, slower tablet sales and a return of laptops as a PC industry generator. Business with network technologies will also improve on all levels, both of passive and of active equipment.

CBN expects the development of ICT industry in Bulgaria to increase the two new trends in the country: increasing online shops and platforms for e-services of clients in all sectors, from banking and utilities to telecoms. This will lead to more frequent closure of bank offices and various other outlets for serving clients.

The technological development of the state and municipal administrations will remain critically low in 2016, mainly because of the lack of sufficiently good communication between the country's political governance and technological business, the analysis says.

One of the good events, regardless of the lack of experience and the visible lack of knowledge of technological industry in Bulgaria, is the new tech park in Sofia, the experts say.