IT market in Tbilisi
Tbilisi is the capital of Georgia which has the charm of Asian and European cultures in one place. Also, this town is home to good wine, tasty food, impressive houses, artsy and unbelievable architecture, and sights that are worth being spotted on camera. In the last five years, Georgia has become a platform for foreign investments and an innovative center of network and information technology. There are more than 115 different information technology companies operating in Georgia, including giants like IBM, AirWatch, Dell, and others. Network and IT sectors generate more than $5 billion per year which attracts the attention of even more investors from all over the world.
The government has contributed to the development of the country in the IT sector and is doing everything possible to attract new players to the arena. Foreign IT businesses and talents can expect low taxes in Georgia as special tax regimes were provided. It includes Small Business Status, Virtual Zone, and International Company. Those entrepreneurs whose income from activities during the calendar year will not exceed the limit of 500 thousand GEL which is about 175 000 USD, can obtain the status of Small Business. The main advantage that it gives is an income tax of 1%. Also, when the coronavirus pandemic started, the government provided a new visa regime for freelancers who want to relocate to Georgia.
It is important to mention that the government realized the importance of developing the IT sector and they invested more than $ 4,7 million in AI, IT biotech, and agri-tech startups.
Compared to other countries, the IT sector in Georgia is not that developed even though there are many skilled specialists. Talents speak English very well; most have a university degree in the tech field, and they attended IT courses. Normally, an average web developer from Tbilisi charges $37 per hour while professionals from Western Europe and the US earn 40% bigger money.
The fact that the field is still in its developing stages, gives big opportunities to talents and businesses. For talent pool, it gives a chance to get hired by global tech companies, for businesses, they see a potential in outsourcing tech professionals from Georgia because they are well trained and don’t charge big money for their work. Speaking of IT specialists, the biggest amount of people working in the tech field is located in Tbilisi which is the center of IT world in Georgia.
Since 2014, Georgia started to make steps forward in developing technologies and innovations in the country. Many startups received massive support and investments, and innovative technologies began to be introduced, which contributed to the further development of the IT sector.
Step by step, the country is getting deeper into a modern knowledge-based economy which is one of the best signs of development. This is why RGNRK! plans to open the doors to the talent pool there. Not only skilled professionals that are needed all over the world can contribute the global digitalization, but working with the Georgian tech pool also opens new opportunities in achieving the client’s needs and expectations. Tech staff from Tbilisi is well-skilled and doing more than just basic coding.
Although many companies from the US are mostly focused on hiring specialists from Eastern Europe countries, the tendency might get shifted a bit in favor of Georgia. More and more tech companies considering IT staff from Tbilisi to hire and integrate them into their projects because they are well-trained, experienced, and motivated for a reasonable hourly rate.