Lviv as the Emerging City of the Year in the CEE Region

Early 2020 gave Lviv an outstanding CEE Business Services Awards naming it the Emerging City of the Year — CEE. The award ceremony took place in Warsaw and brought together 320 TOP-managers from 23 countries as well as over 70 international organizations from Western Europe, Scandinavian countries, the USA, the UK and India who seek new business opportunities and expansion to Central and Eastern Europe.

International Market Players

The experts explain that Lviv has a lot to offer to the investors owing to a large number of graduates, developing infrastructure, beneficial geographical location and multiple companies already successfully operating or having their HQs here. Among the largest corporations operating in the city area with manufacturing facilities, customer support or BPO centers are Nestle, KPMG, Cypress Semiconductor, Fujikura, Austrian Airlines and others.

Lviv IT Industry Overview

Within the past years, the Ukrainian IT market has shown significant growth which is why we are taking a closer look at the best IT outsourcing destinations in the country. With over 490 companies employing 26,000+ specialists 80% of whom are software developers Lviv is amidst the three largest IT hubs of Ukraine. According to Lviv IT Cluster’s latest report, the IT industry share in the GRP of Lviv comprises 20% of the city’s total GRP which was around $ 780 million and the number is constantly increasing.

  • entered the top 10 for cost-efficient investment in the Financial Times investment ranking Smart Locations of the Future;
  • headquarters several IT companies that joined the rating of 100 best outsourcing services providers by AIOP;
  • IT sector has grown by 85% compared to 2015;
  • has had up to 5000 applications annually from young people wanting to join the IT educational programs in the local universities.

Why Lviv?

Excellent Location and Cultural Adjacency

Lviv is located in the heart of Europe and can be easily reached from any European city by bus, train, or plane. The air commute today is by far the most advantageous means of transport as it significantly reduces the travel time. As of today, Lviv International Airport, the second-largest in Ukraine, services 55 destinations in 24 countries including direct intercontinental flights to Africa (Egypt) and Middle East (Dubai).


To conclude, Lviv is a city of numerous opportunities for businesses and specialists. The latest initiatives by the local authorities and organizations prove that the city has a bright future. Potential investors have multiple opportunities and business models to choose from.



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