Bosnia & Herzegovina: Companies and Agencies Insights

Bosnia’s possible entrance into the EU will be a key driver of ICT growth, facilitating increased trade between European markets. Over the next years, the process of EU convergence, which still has far to go, will drive spending on IT projects. Funds such as the EU Cohesion fund are already providing funding for IT projects related to modernization initiatives in both public and business segments. As the government remains the major investor in ICT in Bosnia

The combined government sector also remains the largest spender on IT products and services, unsurprising bearing in mind that the state still owns a wide range of companies across sectors like transport, telecoms, oil and gas, and insurance. Despite all the difficulties, the ICT sector in Bosnia is one of the best sectors of the Bosnian economy, especially since a large part of it is focused on exports. The ICT sector in Bosnia has annual revenues of around 1,9M Euros.

Why working with Bosnian IT companies

IT companies from Bosnia are relatively new to the market and rely on the already existing infrastructure when providing web & software services and solutions to the local and international markets. Bosnian IT companies managed to implement the newest IT standards and are specialized in the subsector of software development more than the web, and cloud computing. 

The choice is based on local market demand, as 35% of products and services provided by Bosnian IT companies are sold to the government and implemented in the local public sector, which is supposed to increase the digitalization rate of the country overall. Nonetheless, some other 65% of IT services are designed for regional export and are considered a part of the regional IT backbone in the western Balkans. 

What to pay attention to when working with Bosnian IT companies

It is important to know that most Bosnian IT companies were at the startup phase in 2015, and this makes them new and probably inexperienced in providing competitive services on the global IT market. However, working with Bosnian IT companies may be an interesting experience after all. 

How reliable are Bosnian IT companies

Bosnian IT companies are at an early stage of creating their reputation on the global market. Since not so many IT companies located in  Bosnia managed to highlight their performance, it is challenging to relate to how reliable they are.  But taking into account that in the XXI century all companies have a chance to create a name for themselves, most probably Bosnian IT companies will manage to break the ice, and why not - make out of their country an important regional IT hub. 

How well does the Bosnian IT industry relate to the neighboring countries?

On the regional background, the Bosnian IT industry is neither a shiny country nor an underdeveloped IT environment. But is one of the promising destinations for international clients and foreign companies ready to invest or work with Bosnian IT companies and bring the entire region closer to what the Western-European IT industry is.