Romania’s Business Service Industry to Continue Expansion
- New Europe Investor
- July 24, 2015
Romanian newspaper, The Diplomat states that the business services sector is expected to triple over the next five years.
In 2004, the industry employed 200 people. In 2012 it was worth €500 million euro and employed 20,000 people. Last year it was worth €1.2 billion and employing 60,000.
With the newspapers predictions, it is set to become one of the key engines of Romanian growth over the next half decade.
Romania is now considered the best outsourcing location in Central and Eastern Europe behind Poland. Reasons for this include a population with multilingual and technical abilities, and its geographical location.
Andrei Romanescu, managing director of HP GeBOC, and Board Member of the Association of Business Service Leaders, told The Diplomat that the industry could employ 200,000 people in five years.
Romanescu also explained that state aid offered to foreign companies by the Romanian government will be key in driving growth in the area.
Significant newcomers to the Romanian market have been Vodafone, who launched a customer support service for its operations in the UK, Germany, Italy, Spain and Ireland last year in the capital, Bucharest. Kelloggs, Allianz and Deutsche Bank also launched similar operations.
French Bank, Societe Generale doubled its headcount in Romania from 400 to 800 last year, showing they are happy with the results.
There are a host of multinationals about to follow in their footsteps this year; including Huawei and Ernst & Young.