The IT industry grew by 30% during the first half of the year

The IT industry grew by 30% during the first half of the year, a growth rate derived from a 30% growth in tax payments through June, year over year, according to Ihor Beda, president of IT Ukraine and managing director of GlobalLogic in Ukraine. A poll by the industry association indicates that labor accounts for 80 to 85% of IT company costs and that revenue primarily comes from outsourcing work performed for companies from the US, Britain, Germany, Canada, Israel, Sweden and Switzerland. Looking ahead, IT Ukraine identifies challenges: work permits for foreigners, upgrading education to fit work place needs, eliminating obsolete regulations, and creating more techno parks.