Promising Sectors
Promising Sectors in Bulgaria
A Thriving Tech & Outsourcing Hub
Bulgaria has a rich legacy in IT and electronics, dating back to the pre-1990 communist era, earning it the title of “Silicon Valley of Southeastern Europe.” Today, it stands as a well-developed tech destination and a fast-growing IT hub in Eastern and Southeastern Europe.
$2.5 billion
Valuation of IT Industry
300% growth in the last 7 years
15.6%
CAGR of IT Outsourcing Industry
(Fastest Growing Sector)
5.5%
IT Sector’s Contribution to GDP
(Significant Economic Driver)
2400+
Software Development Companies
322 IT Outsourcing Firms, 288 BPOs
12,000+
ICT Companies in Bulgaria
(Including SAP, HP, Accenture, VMware, etc.)
Top Clients
USA, UK, & Western Europe
(Major software outsourcing destinations)
Indian IT Presence
TCS, Infosys, Wipro, HCL,
Using Bulgaria as a gateway to Europe
300%
Growth of Bulgarian IT Industry
(Over the last 7 years)
Strategic Location
Bulgaria’s geographical advantage provides seamless access to European markets with no time zone issues. It serves as a key gateway for Indian companies expanding into Europe.
Highly Skilled Workforce
Home to over 12,000 ICT companies, including major players like SAP, HP, Accenture, VMware, Bosch, and DXC Technology. The IT industry has grown 300% in the last seven years
Cost Effective Operations
A highly skilled workforce with lower labor costs compared to Western Europe. The IT outsourcing industry alone has grown at a CAGR of 15.6%, contributing 5.5% to Bulgaria’s GDP
Stable Business Environment
With a low, flat 10% corporate tax rate, Bulgaria attracts global IT giants. There are over 2,400 software development firms, specializing in IT consulting, software development, managed services, and mobile app development.
Bulgaria continues to attract major global IT players, including Indian tech giants like TCS, Infosys, Wipro, HCL, and Tech Mahindra. With an ease of doing business and proximity to key European markets, Bulgaria remains a powerhouse for innovation, digital transformation, and IT outsourcing.
Driving the Future of Mobility
Bulgaria’s automotive parts manufacturing sector is one of the fastest-growing industries, supplying key components to major European automakers. Local production spans electrical & electronic equipment, spare parts, wheel rims, batteries, tires, windshields, paints, and filters.
380+
Companies
80,000+
Employees
10%+
Contribution to GDP
€4.3 Billion
Annual Turnover
Automotive Manufacturing Base
Home to 380+ companies, employing over 80,000 people, contributing 10%+ to Bulgaria’s GDP, with an annual turnover exceeding €4.3 billion.
Supplier for European Markets
80-90% of vehicles produced across Europe use components manufactured in Bulgaria, reinforcing its role as a key supply chain hub
Global Industry Leaders
Leading automotive component manufacturers include Witte Automotive, Eberspächer, Leoni, Nedschroef, Sensata Technologies, Willi Elbe, Montupet, Grammer, Oskar Ruegg, and Sumitomo Electric Bordnetze
Advanced Engineering
Bulgaria houses high-tech R&D centers and production facilities, specializing in locking systems, exhaust systems, cable harnesses, aluminum casting, seating solutions, and electrical components
With its skilled workforce, competitive costs, and strategic location, Bulgaria continues to strengthen its position as a key player in Europe’s automotive supply chain, supporting top global brands like Volkswagen, Audi, Porsche, Skoda, Ford, BMW, and Dacia.
Witte Automotive Bulgaria EOOD: A subsidiary of the German company Witte Automotive, specializing in vehicle locking systems and components.
Eberspächer Bulgaria: Part of the German Eberspächer Group, this company produces exhaust systems and heating solutions for vehicles.
Leoni Bulgaria: A division of the German automotive cable supplier Leoni, opened a plant in northern Bulgaria in 2018.
Nedschroef: A Dutch company that inaugurated a new plant in Stara Zagora in 2023. The facility focuses on producing high-tech, critical components for the automotive sector.
Sensata Technologies Bulgaria: A subsidiary of the U.S.-based Sensata Technologies. The facility manufactures a range of sensors and electrical protection components for the automotive industry.
Willi Elbe Automotive Bulgaria: Part of the German Willi Elbe Group, producing steering and drive components for various automotive manufacturers.
Montupet Bulgaria: A French-owned aluminum foundry based in Ruse, primarily manufacturing cylinder heads and chassis parts for major automotive brands, including Audi, BMW, Ford, and Dacia.
Grammer AD: A subsidiary of the German company Grammer, specializing in developing and manufacturing components and systems for car interiors, as well as driver and passenger seats for off-road vehicles, trucks, buses, and trains.
A Rising Hub for Global Film Production
Bulgaria has emerged as an attractive destination for international filmmakers, with major Indian films like “Bahubali,” “RRR,” “Dilwale,” “Shivaay,” “Brahmastra,” and “Agnathavasi” filmed in the country.
€1 million
Rebate Cap per Project
(Awarded on a first-come, first-served basis)
€4 million
Annual Budget for Rebate
(Total allocation for film incentives)
20%
VAT Rate
(With Refund Optiins)
25%
Cash Rebate
(on qualifying expenditures)
State-of-the-Art Studios
Nu Boyana Film Studios in Sofia provides cutting-edge facilities, including sound stages, set construction, and post-production services, along with large backlots replicating cities like New York and London. It also boasts one of Europe’s largest water tanks for aquatic scenes.
Skilled Workforce
A pool of experienced, English-speaking film professionals ensures high-quality production for international projects.
Cash Rebate
Since March 2021, Bulgaria offers a 25% rebate on qualifying expenditures for films, TV series, documentaries, and animations. The incentive is capped at €1 million per project with an annual budget of €4 million, awarded on a first-come, first-served basis.
A Leader in Sustainable & Organic Farming
Bulgaria’s agricultural sector plays a crucial role in the economy, contributing 4% to Gross Value Added (GVA) and employing over 6% of the workforce. With 48% of the country’s land under cultivation, Bulgaria benefits from favorable natural conditions for farming.
4%
Gross Value Addition
48%
Land under Cultivation
6%
Workforce Employed
$28.8 milion
Wine Exported in 2023
Leading Producer of Cereals
Leading Producer of Cereals & Industrial Crops – Major crops include wheat, corn, barley, and sunflowers, essential to both domestic and export markets.
Global Hub for Essential Oils
Global Hub for Essential Oils – Bulgaria is a top producer of rose and lavender oils, primarily cultivated in the Rose Valley region in Central Bulgaria.
Expanding Livestock Industry
Expanding Livestock Industry – Growth in swine and commercial cattle farming has led to higher domestic meat supply and record live cattle exports.
Strong Wine Export Market
Strong Wine Export Market – In 2023, Bulgaria exported $28.8 million worth of wine, ranking 34th globally. Key export destinations include Poland, Sweden, Czechia, the USA, and Russia.
Bulgaria’s Growth Potential in Agriculture
With niche agricultural products demonstrating strong export demand, Bulgaria continues to strengthen its position in the global market.
Rose & Lavender Oils: A leading global producer of lavender oil, exporting 100-130 metric tons annually to the USA, Germany, France, and China.
Indigenous Grape Varieties: Unique varieties like Gamza, Rubin, Ruen, Broad Leaved Melnik, and Mavrud differentiate Bulgarian wines in international markets.
A Hidden Gem for Global Travellers
Bulgaria’s tourism industry has demonstrated remarkable growth and resilience, establishing itself as a significant contributor to the nation’s economy. In 2024, the country welcomed a record-breaking 10.7 million foreign visitors between January and September, surpassing pre-pandemic levels and setting a new benchmark for success.
10.7 million
Foreign Visitors between January to September 2024
Affordable
Recognised as the most affordable
country in Europe
Diverse Attractions
Bulgaria offers a rich tapestry of tourist destinations, from the Black Sea resorts like Sunny Beach and Golden Sands to winter sports hubs such as Bansko and Borovets. The capital city, Sofia, and historic towns like Plovdiv and Veliko Tarnovo provide cultural and historical experiences.
Schengen Area
Strategic Developments with the integration of Bulgaria into the Schengen area has facilitated easier travel, boosting tourist arrivals from European countries.
With its rich history, scenic landscapes, and thriving tourism infrastructure, Bulgaria is a must-visit destination for global travelers. Moreover, the country is recognized as one of Europe’s most affordable holiday destinations, appealing to budget-conscious travellers.
