While first and foremost a humanitarian crisis, Russia’s military invasion of Ukraine has also become a concern for IT outsourcing customers with interests in the region — and those taking advantage of the global IT services market generally.
The conflict has had a significant impact on Ukraine’s IT outsourcing industry, which exports $6.8 billion IT services annually, approximately 4% of GDP, according to trade group IT Ukraine Association. Ukraine, together with neighboring nations, employs around half of the 1.5 million IT and business services professionals working in nearshore Europe, according to IT services and BPO research firm Everest Group.
