What would be the most convincing factor for considering an outsourcing destination better than all the available options? It depends on the needs and requirements of the seller. Yet there are many factors that make the difference when it comes to Business Process Outsourcing (BPO). The latter is a worldwide industry with global market size of $88.9 billion according to statista.com. Even though the sector continues to grow and evolve, not all countries or regions embraced the BPOs’ potential at the same time. Countries like India, the Philippines, China, Malaysia, and a long list of countries are BPO hubs. Companies from all over the world decide to outsource their functions to one or more companies based on these top countries.
However, this is not the rule. There are many factors that determine what would be the best outsourcing destination for a company. About 60 percent of the companies that outsource do it in Europe. There are many enterprises that opt for new emerging destinations mostly in South-Eastern Europe. Estonia, Poland, and Bulgaria provide an affordable and skilled workforce. In the meantime, there are other countries that are not members of the European Union like Ukraine and Albania that offer many advantages and reduced costs. Despite the many benefits Ukraine has been through conflicts and insecurity. On the other hand, Albania has seen a boom in the BPOs during the last 15 years.
Located in Western Balkans, Albania has a strategic position on the coasts of the Adriatic and Ionian seas.
Benefits of outsourcing to Albania
Nearshore proximity for European companies
A young and well-educated workforce
Skilled talent pool
Multilingual labor force
Growing labor market
Low-income tax and VAT Rate
Incentives for Software and ICT service providers
Competitive Labor Costs
The university system is going through reformation due to major protests organized by students that seek better education and more employment opportunities. Therefore, education is going to be more affordable and specializes in services and skills such as science, information technology, and engineering. Italian and English are widely spoken in Albania. The English language is part of the school curricula and mandatory A-Level exam. Women receive the same treatment and education opportunities as their fellow male peers.
While for many years international companies have contracted low qualified talent, other companies are realizing the potential of the top talent that is still available. Therefore, the best time to start considering Albania as an outsourcing destination is now. Economic forecasts say that the unemployment rate will decrease at a significant level during the next two years. In the meantime, the country has high hopes of becoming an EU member in the near future. The more a company delays its plans for outsourcing to Albania, the higher the costs because the top talent will be already Taken. Good Luck!