Bulgaria's Fading Appeal to Investors: IT Sector Grapples with Challenges

The IT industry in Bulgaria is set to end 2024 without any growth in employment numbers and with decreasing revenue growth, according to Iliya Krastev, chairman of AIBEST. During the annual report presentation, he noted that the country’s lack of a functional government and clear economic vision has led neighboring nations to capitalize on this instability. As a result, Bulgaria is increasingly being viewed as an unsafe destination for investors, with foreign businesses and capital flowing to countries like Greece, Romania, and others in the region.

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