We’re excited to announce that two Ukrainian cities – Kyiv and Lviv – enter this year’s list of Top 10 most promising cities by cost-effectiveness. The list was put together by the greenfield investment monitor fDi Markets. The cities rank 5th and 8th respectively among the 10 most cost-effective smart locations of 2019-2020.
To evaluate locations’ cost-effectiveness, fDi researchers considered the following factors:
- Annual rent for prime Grade A office space ($ per sqm)
- Annual rent for prime Grade A industrial space ($ per sqm)
- Average salary ($) for skilled worker
- 4*/5* hotel in the city center ($ per night)
- Total tax rate (% profit)
- Corporation tax rate (%)
- Cost of establishing a business (absolute value using GNI)
- Cost of registering property (% of property value)
- Cost of establishing an electricity connection (absolute value using GNI)
Click here to view a chart comparing the total cost of software developers in Ukraine versus the USA, Israel, and the UK.
As some of Europe’s most cost-effective smart cities, Kyiv and Lviv have already attracted many global brands to come and launch their offshore R&D and dedicated software development teams. The vast majority of Western businesses outsourcing their software development and technology solutions to Ukraine report up to 70% cost saving compared to their home countries.
Read on Clutch what our clients think about working with Ukrainian programmers, software engineers, testets, and PMs.