Why Slovakia as outsourcing location

Slovakia

Situated in geographical center of Europe
Population: 5.4 mil
GDP: € 104.6 bil. (2020)
Member of European Union since 1 May 2004 and Eurozone since 2009
Member of Schengen, OECD, WTO, NATO
Capital City: Bratislava / Population of 430 000
Time Zone GMT+1 hr
Distance to
Vienna 70 km
Zurich 800 km
Berlin 680 km
Prague 260 km
Country credit ratings
A+ S&Ps
A Fitch
A2 Moody’s
0 OECD Country Risk

Strategic Location

Geographically, Slovakia is at the heart of Europe and easily accessible. Flights from Zurich to Vienna take less than one hour, followed by a short thirty-minute taxi-ride to Bratislava. Alternatively, fly from Basel to Bratislava directly.

Safety and Stability

Slovakia joined the European Union in 2004, introduced the Euro in 2009 and is part of Schengen. According to the Credit Insurance Group, Slovakia is one of the safest and most politically stable countries in Europe. Slovakia’s GDP has tripled since 2016, has an A+ country credit rating (Standard and Poor’s) and ranks at 4th place in the EU when it comes to export of goods and services (% of the GDP).

Labor Force

With more than 30 Universities, a third of the tertiary educated labor studied sciences, technology, engineering and mathematics.
English with 95% and German with 40% are the most common foreign languages taught at Slovak secondary schools.

Business-Service-Center (BSC)

With more than 37’000 people employed by 65 Business Services Centers, Slovakia provides high-value operations services for Global Companies around the world.
Finance, Accounting and Information Technology are ranking at the top of the areas of operations; moreover, the specialized business services field ranks 3rd place at 15%, underlining the strength of Slovakia to provide highly client-oriented solutions.

Innovation

As a top priority, the Government of the Slovak Republic attracts and supports investments with high added value and innovation potential. Automation, cybersecurity, big data and AI are key priorities for the Services Sector.

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