Bulgaria is among the leading European countries, in terms of the cost and quality of the outsourcing services the country offers.

A joint analysis by Colliers International and AT Kearney concluded that Bulgaria held the top position for outsourcing possibilities among the 12 European countries surveyed.

The other countries were: the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Russia, Serbia, Slovakia and Ukraine.

The country competes internationally in the top 15 countries, with its combination of attractive locations for outsourcing and offshore activities.

"The assessment was based on criteria such as financial attractiveness, the overall economic climate and the availability of a skilled workforce," said Atanas Garov, executive director of the Bulgarian branch of Colliers International.

According to him, the current time is very suitable for Bulgaria to attract investments in the outsourcing industry.

"Outsourcing could become a major economic engine for our country with the opportunity to reveal a large number of highly skilled jobs. For this to happen it is a necessary and active engagement on behalf of the government, local administration and businesses," said Garov.

Central and Eastern European (CEE) countries will continue to be among the leading global destinations for outsourcing services, according to the study. Their chief advantages are a combination of skilled staff, excellent foreign language training, know-how, cultural proximity and tolerance.

This combination of positive factors makes this sector one of the main drivers of the labor market and demand for office space in CEE, the study reveals.

Compared with established large business centers, the smaller cities are financially more attractive, and are not necessarily inferior in qualifications of available labor.

The report reveals that a high quality and modern office space is key to the long-term existence of outsourcing centers. This factor is important for optimizing operational costs and to retain employees in the company.

Within Bulgaria, the Black Sea town of Varna is a typical example, says the report.

"Varna offers the most competitive rental prices for office space among other secondary markets in the CEE region. This factor, combined with a skilled workforce, an easily accessible geographical position and well developed infrastructure, makes the city an attractive outsourcing and offshoring destination," said Rumyana Lepicheva, executive director of the office of Colliers in Varna.