Armenia

Besides being one of the oldest countries in the world and known for its fascinating culture and nature, Armenia is also a country full of highly-skilled professionals in different fields, including energy, IT, pharma, finance, and accounting. Armenia has quickly become a global leader in business process outsourcing.

  • Capital : Yerevan
  • Language : Armenian (English and Russian are widely used)
  • Total Area : 29,743 km2
  • Currency : DRAM
  • Population : 3 million
  • Literacy rate : 99,6 %
  • Majority religion : Christianity
  • Access: 2 International airports in Yerevan and Gyumri

Why Armenia

Highly Qualified Labor

Human capital is Armenia’s most valuable resource. Sixty-five percent of the population is 17 to 59 years old, which provides a unique edge in terms of labor quality over other worldwide markets. Annually, more than 60,000 students enroll in Armenia’s 27 state and 41 private higher education institutions, and the country boasts a 99.6% literacy rate.

Cost Efficiency

The cost differential between salaries and operational overhead, combined with cheaper infrastructure, significant tax breaks, and other benefits, contribute to make Armenia an appealing and cost effective option to foreign businesses.

Proficiency in English

Armenia’s strong education system provides an advantage over other countries. Exemplary schooling, combined with the presence of many international companies in the country, has led to a majority of Armenians, especially the younger generation, speaking English. Additionally, many Armenians master Russian and other languages, including French, German, Spanish, and Italian.

Low Labor Turnover Rates

A lower labor turnover rate compared to that of other top outsourcing destinations means that time and resources spent on training and career development provide a valuable long-term investment.

Advanced Technologies

During the past two decades, Armenia has heavily invested in its science talent. Companies outsourcing business processes to Armenia have the opportunity to work with technically-savvy and highly-skilled professionals, with expertise in international IT systems and technologies.

Infrastructure

Armenia has the necessary infrastructure, telecommunications, and utilities required to conduct business. The country’s communications infrastructure is well-developed for both landline and mobile service, and operators offer high-quality connections that exceed international standards. Reliable high-speed internet service is available throughout the country. Armenia has two principal airports, Zvartnots International Airport in Yerevan, and Shirak International Airport in Gyumri. Zvartnots International is widely recognized as the best airport in the South Caucasus.

Location & Time Zone

The UK forms the far west side of Europe, whereas Armenia is located at the opposite end and is referred to as a gateway to Europe. Its location in Eastern Europe allows Armenia to communicate effectively at the right time with others located in the US, Europe, China and the rest of the world.

Business Environment

After gaining independence in 1991, Armenia adopted a policy of liberal market economies and initiated a privatization program. Through its effective investments in the field of technology and infrastructure, the country has been able to create a favorable business environment for foreign investors. Armenia ranks significantly higher than many countries in the world in global rankings. The main sectors of the economy undergoing rapid growth include energy, including renewable energy, mining, construction, IT, food processing and beverages, jewelry and diamond processing, as well as tourism and financial services.