site.btaSoftware Sector in Bulgaria Reports 11.5% Revenue Growth in 2024

Revenues in Bulgaria's software industry exhibited a growth of 11.5% in 2024, with a forecast of a 9% increase in 2025. The sector continues to demonstrate a strong export orientation, with 87% of revenues being derived from exports. Furthermore, it is anticipated that the total volume of the industry will reach BGN 11 billion by the year 2025. These are some of the findings of the BASSCOM Barometer 2025, the 17th annual survey by the Bulgarian Association of Software Companies (BASSCOM) on the state of the software sector in Bulgaria, which were presented on Tuesday in the Newton Hall of the Grand Hotel Millennium Sofia. 

According to BASSCOM data, the sector currently comprises approximately 6,100 companies, with 300 new companies and 1,197 new jobs created in 2024. The total number of individuals employed in the industry exceeds 60,000. The association has observed that the discrepancy in remuneration between Sofia and other regions of the country is gradually diminishing and the current gap is approximately 5-7%. Furthermore, the software sector generates social security contributions that are three times higher than the national average.

The study indicates a "recovery" in the labour market, characterized by an increase in the number of candidates and a widening of companies' hiring options. The most significant growth in market demand is reported in areas such as artificial intelligence, machine learning, and cybersecurity. The outlook for the period until 2027 indicates revenues of over BGN 13 billion, more than BGN 3 billion in taxes and social security contributions, and 65,000 jobs.