With the COVID epidemic, the whole world has moved to hybrid or completely remote work, and this has played an important role in the demand for Ukrainian IT specialists in the West.
Ukrainian IT specialists will find direct contracts with global technology giants and thus raise the bar for the entire market.
This is stated in the joint project of AIN.UA and Favbet Tech.
“During the COVID epidemic, the whole world has moved to hybrid or completely remote work, and this has played an important role in the demand for Ukrainian IT specialists in the West. At the same, and sometimes even higher technical level of our specialists, Ukrainians are cheaper for a Western employer, Therefore, in many cases, our specialists can find direct contracts with global IT giants, which raises the level for the whole market,” said Favbet Tech CEO Artem Skrypnik.
The export of IT services from Ukraine is also growing – before a full-scale war, on average 27% annually (in the last four years, this amount has doubled).
The main reason for the growth is the USA (40% of exports) and Britain (10%). It is these countries that are now helping Ukraine the most to fight for victory in the war.
In 2021, Ukrainian IT will bring $6.8 billion in export revenue, which is $1.8 billion more than a year before. According to the authors of the study, IT in Ukraine should provide $37-44 billion in export earnings over the next four years.
According to the NBU, in January-May 2022, the IT industry, despite everything, shows growth compared to the same period in 2021. By the end of the year, export earnings may reach $8.5 billion. Today, IT accounts for almost half of total services exports.
Recall that during the war, Favbet Tech actively supported the Ministry of Digital Development in the initiative to deploy an IT army and organized its own cybertroops.