site.btaBulgaria Loses Allure as Offshore Destination

Bulgaria dropped eight places and now occupies the 25th position in the annual ranking of the most attractive outsourcing destinations of the consulting firm Kearney. This is one of the few indicators by which the country was visible to investors, the Bulgarian Chamber of Commerce and Industry (BCCI) said on its website on Tuesday.

In 2021, the country ranked 17th in the global rankings.

The reason for the lower ranking, according to the consultancy, were deteriorating indicators: financial attractiveness, labour skills, business environment, digital infrastructure.

A country's attractiveness as an offshore location for business services depends largely on its ability to reskill and redeploy its workforce in response to changing market demands and technological disruption.

Kearney's Global Services Location Index (GSLI) helps companies and government institutions understand and compare the factors that make countries attractive as potential offshoring locations. This year, the GSLI ranks 78 countries based on 52 indicators, compared to 60 countries and 47 indicators in 2021.

The top countries in the 2023 GSLI - India, China and Malaysia - continue to lead the way thanks to their huge price advantage, abundant talent pool and strong skills. India and China are also showing signs of strength in talent regeneration capabilities, making them global leaders in technology-based workforce availability.

Geopolitical, economic and technological forces have caused significant changes in the global labour market. Consequently, a country's ability to reskill and redeploy its workforce in response to changing market demands and technological disruptions is key to improving its attractiveness as an offshore location for business services, according to Arjun Sethi, Vice Chair of Kearney's Digital Transformation Practice.