Independent Agency CBN Pannoff, Stoytcheff & Co.: 93 of the TOP100 Software Companies in Bulgaria Are Headquartered in Sofia

Sofia is the location of the headquarters of 93 of the 100 companies in the “The 100 largest employers in the software business in Bulgaria” (CBNTOP100) ranking of CBN – Pannoff, Stoytcheff & Co.

The ranking includes over 15,000 operating ICT companies in Bulgaria based on financial results and KPIs for the period from 2015 to 2020, including income and profit, number of employees, staff costs, productivity, employee benefits, payables, etc.

The main conclusions of the study of CBN – Pannoff, Stoytcheff & Co are:

– The top hundred largest employers in the software sector in Bulgaria have provided 26,625 tech jobs.

– 24 companies from CBNTOP100 have Bulgarian ownership, and the remaining 76 are owned by investors from a total of 20 countries, including the strongest economies in the world – the USA, China, Germany, the UK, France, Russia, Canada, Belgium, the Netherlands, Denmark, Spain, Sweden, Israel, and others.

– The 24 companies with Bulgarian ownership have an 18% share of the number of employees, and the growth in the number of employees in these companies compared to 2015 is 67%.

– 11 companies with 2,546 employees or about 10% of the workforce work for the domestic market.

– 89 companies in TOP100 with 24 079 employees or over 90% of the employees work mainly for foreign markets.

 According to CBN – Pannoff, Stoytcheff & Co, companies operating in foreign markets have exported an intellectual product worth 2.1% of GDP and each job in these companies has generated an average income that was 6.3 times higher than the GDP per capita.

 CBN Pannoff, Stoytcheff & Co agency commented in a publication for CBNTOP100:

“CBN recognizes an exceptional benefit for our society from including the expertise of more Bulgarian companies in the digital  transition process because they have long proven themselves on the world technology scene in competition with international business corporations and can contribute in solving difficult problems for the country in the process of digitalisation and e-government. “

Follow the link for more from CBNTOP100.

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 CBN – Pannoff, Stoytcheff & Co. is an independent agency specializing in business research, market analysis, and consulting, mainly in the field of ICT. Since 1992, CBN has been conducting its research on the volumes and market leaders in Bulgaria for computer systems, peripherals, mobile devices and communication equipment, the Internet, and software.