The the post of October I was suggesting that Belarus is one of the best choices for outsourcing destination in those hard times. While it’s storming the exchange rates of many customers chances are high that local salaries of people will be eroded and the purchasing power will become less. Not the case for outsourcing industry in Belarus. Below is the extract from our post last year:
Worth case scenario for crisis is that devaluation of the belorussian ruble will occur which will be a hit for the country but not the outsourcing industry. In fact it will win in this case (consider employees being able to purchase more for the same salary).
On 2nd of January, 2009 Belarus’ central bank sharply devalued the belarusian ruble, allowing the currency to plunge 20 percent. It’s not my intention to cover the reasons and effects of this change on the economy and citizens. What’s I’m going to highlight instead is that the developers and other tech folks in Belarus started earning higher salaries overnight (of course the prices for commodities will be increased eventually). That is the case for all companies who are export oriented – the compensation of employees increased and so the satisfaction. Happy New Year to everyone!
Tags: belarus currency, currency, outsourcing
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