The IT Sector in Armenia Is Forming a Middle Class


Over the past decade, the development of the Information Technology (IT) industry and the establishment of the information society have been a major impetus for increased competitiveness within the economies of all developed countries.Better productivity, management, innovation and scientific-educational systems, as well as the development of supporting infrastructure, have been recognized as priority areas—the cornerstone for building a knowledge-based economy.The IT sector in Armenia is a strategic direction for the development of the country, taking into account existing realities, including the relatively high level of scientific and educational potential of the population, the traditional effectiveness of creative, scientific-research and applied work, as well as the limitations of territory, natural resources and transportation routes.The rapid growth of the global economy in the last decade is due to high-tech innovations and their application in various industries.Being a center of software development, industrial computing, electronics and semiconductor production during the Soviet era, Armenia continues to occupy a leading position in the region in the field of information technology in terms of its share in the country’s GDP, growth rate in the number of companies and total turnover.To read the full story, check out the article on EVN Report.


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