Blog Article

Kyiv and Lviv Enter fDi's Top 10 Smart Locations of the Future 2019/20

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Vik Bogdanov
Chief Marketer

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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.

IT outsourcing to Ukraine, ukraine in global rankings

Source: fDi, 2019

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.

Ukraine As a Bright Spot on Central and Eastern Europe Software Development Scene

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.

Do you need help building a dedicated/extended Team or getting ad-hoc resources for your software development project fast and cost-effectively?