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Bosnia and Herzegovina - Fastest economic growth since 2008

Bosnia and Herzegovina - Fastest economic growth since 2008


Exports and investments support the economic growth of Bosnia and Herzegovina. In 2015, the growth rate of the country’s GDP was approximately 2.5%. The employment rate is high compared to other European countries, at 25%, but is currently declining. The positive trend in the economy has resulted in a 3.1% increase in wages, which means increased purchasing power for consumers.
 
The growth is expected to continue in 2016, driven by exports and large-scale domestic infrastructure projects. The country’s GDP is forecast to grow by 3.3%, which would be the fastest rate since 2008. “The economic growth has had a clear impact on the recruitment market,” says Mersiha Mima Mehić, Chief Operations Officer at Kolektiv d.o.o.
 
“This is seen both in the number of job advertisements (increased by 12% from 2014) and, in particular, in the number of applications (increased by 15% from 2014). Thanks to the positive economic climate, many international companies are considering outsourcing their operations to Bosnia and Herzegovina. However, a large percentage of job applicants have found work abroad or are working remotely. Foreign companies advertise available jobs, and the demand for workforce is great in Central and Eastern Europe. Bosnia and Herzegovina suffers from brain drain, particularly in the IT and health sectors. The shortage of competent staff makes companies focus on strengthening their employer image and turn to recruitment companies for help,” Mrs Mehic says.

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