Why is Romania on the radar of ITO multinational companies?  Romania is emerging as a preferred IT shoring location in Central and Eastern Europe due to its geographical proximity to Western Europe, its qualified IT&C workforce, foreign language skills, academic readiness to back high demand in talent pool continuity, the right price-quality ratio and its good connectivity by air to Europe. Moreover, increased availability of state aid schemes pushes the seventh largest country in the European Union high up in the preference list of ITO companies. Romania is home to ITO, KPO, BPO and SSC companies. Romania has aligned its real estate infrastructure to the standards of proven shoring locations and its straightforward legal framework points to high probability of state aid schemes. Local and multinational companies from Romania are witnessing a fierce competition in attracting ITO investments both between Bucharest, the capital city and the largest regional cities and between Romania and neighboring countries: Poland, Ukraine, Czech Republic and Hungary.

Romania. Facts.

EU member: Yes, Since 1st of January, 2007
Location: Central and Central Europe (CEE)
Population: 20.121.641
Time zone: EET (UTC +2)
Capital: Bucharest
Main Cities: Cluj-Napoca, Timișoara, Iași, Constanța, Craiova, Galați, Brașov
Demographics: 7th largest in EU by population
GDP growth rate:(European Commission estimates)
2020 2021
-5.0% +3.8%
GDP per capita: $12.285  – 70th in the world (2020 Data Worldbank)
IT&C contribution to GDP in 2020 (INSS): 7%
IT&C labor/total national labor: 1.95%
ITC Growth (2020/2019) (INSS): 14,2%
IT&C export 2020 of total services (BNR): 20%
IT&C FDI rate / total FDI: 7.3%
Corporate profit tax: 16%
Tax on programmer salaries: 0%
HDI (human development index): High
Inflation: (European Commission estimates 2013) 2.6%
Unemployment rate: (European Commission estimates)
2020 2021
5.9% 6.2%
COUNTRY RANKINGS
A.T.Kearney Global Services Location Index 2019 28th place
Fitch Sovereign Rating 2020 BBB-, negative outlook
Moody’s Credit Rating 2012 Baa3, negative
Standard & Poor’s Foreign Rating BBB-, negative outlook