That's according to consulting firm McKinsey, which predicts that the business process outsourcing (BPO) industry will support 130,000 jobs in the region by 2008.
Although only 1 percent of the world's total BPO spending--worth $30 billion--is currently located in Eastern Europe, the region emerged as one of the favorite locations for Western European companies to invest in between 2004 and 2006.
McKinsey identifies three main advantages for companies locating BPO operations in Eastern Europe in the winter issue of McKinsey on IT.
The region offers low wage levels, comparable to India's, with slow wage inflation looking likely to keep the region economically competitive for at least 15 years.
