Key regions: United Kingdom, United States, Brazil, Japan, Netherlands
Croatia, known for its stunning coastline and rich history, has been experiencing a steady growth in the Business Process Outsourcing (BPO) market in recent years.
Customer preferences: One of the main reasons for the growth of the BPO market in Croatia is the country's highly skilled workforce. Croatians are known for their proficiency in foreign languages, particularly English, making them an attractive option for companies looking to outsource their customer service or back-office operations. Additionally, the cost of labor in Croatia is relatively low compared to other European countries, making it an appealing option for cost-conscious businesses.
Trends in the market: The BPO market in Croatia has been experiencing a shift towards more specialized services. While customer service and back-office operations still make up a significant portion of the market, there has been an increase in demand for more complex services such as data analytics and software development. This trend is likely to continue as companies look for ways to stay competitive by leveraging technology and data.
Local special circumstances: One of the unique aspects of the BPO market in Croatia is the country's strong ties to the European Union. As a member of the EU, Croatia is subject to EU regulations and standards, making it an attractive option for companies looking to expand their operations within the EU. Additionally, Croatia's location in Central Europe makes it a convenient location for companies looking to outsource their operations to a nearby country.
Underlying macroeconomic factors: The growth of the BPO market in Croatia is also tied to broader macroeconomic factors. Croatia has been experiencing steady economic growth in recent years, with a GDP growth rate of 2.9% in 2019. This growth has been accompanied by a decrease in unemployment rates, which has led to a more competitive labor market. As a result, companies are increasingly turning to outsourcing as a way to access the skilled labor they need to grow their businesses. Additionally, Croatia's government has been actively promoting the country as an attractive destination for foreign investment, which has helped to attract new businesses to the BPO market.
Data coverage:
The data encompasses B2G, B2B, and B2C enterprises. Figures are based on enterprises' technology spending on products, consulting, and outsourcing services.Modeling approach / Market size:
Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players in the industry, Statista's primary research and surveys, and IT associations. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, and telecommunication. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing method is used based on the market data characteristics. The main drivers are the GDP and its sector composition, internet penetration, the level of digitization, and the attitude toward IT security.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.
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