CORPORATE IT UPDATE-(C)1995-2011 M2 COMMUNICATIONS
3 January 2011 - Bulgaria's IT industry remained buoyant in 2010, but sector players look at the new year with moderate optimism, an industry official said.
Market analyses point to a growth next year, however, the IT companies themselves are not so optimistic. They rather expect at least not to register a decline, Vesselin Yankov, executive director of the Bulgarian Association of Information Technologies (BAIT), told Dnevnik.
According to Yankov, local IT companies will probably pour more funds into the development of high-tech products and services with higher added value. "Companies invest more in safety and other services, such as cloud technologies (remote control and data access), as well as high-end software that brings greater added value, " he said.
Overall employment in the segment will register growth in 2011, show the results of the Barometer of the Bulgarian IT industry survey, carried out among 60 sector players,
Lyubomir Lekov, chairman of local business news outfit Investor.bg, is also optimistic about the sector's development in the new year, projecting a 15% rise in the country's Internet advertising market. The anticipated growth is expected to produce a 25% increase in its revenue to BGN4.4m (USD3m/EUR2.2m) in 2011.
For 2010, Investor.bg expects a 17% growth in its net income to BGN3.5m, Lekov added.
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