It's not construction or manufacturing - it’s information technology! Among others, addressing market sizes and growth rates across various sectors over time, the rate of increase for IT markets has been 20% annually on average since 2010, compared with other industries.
Programmers in Ukraine make up an industry with more than 200 thousand professionals, and almost one-and-a-half million people work as programmers for outsourcing. The country's IT capabilities are nothing to be ashamed of 20 companies from our nation find their way into the top 100 worldwide rankings. Analysts at DAXX believe that we hold onto first place because there isn't enough local or external competition (to other countries).
Ukraine is a hotspot for startups and the future of technology. With34th place globally, it's among 100 countries in Europe with 11th rank solely due to its incredible startup ecosystem index, proving how invested this country seems when they put so much money into external financing levels last year at $571 million. At the end of 2020, it is predicted that IT will bring $5 billion into Ukraine's budget. This means a lot more cash for healthcare and other important sectors in which they are struggling because far too much money has been going out lately due to low exports from this industry-friendly country.
To support and encourage entrepreneurship among locals through incentives like tax breaks or grants on startup costs, thus nurturing entrepreneurial ideas while stimulating economic growth overall.
