Lithuania's business services report 2018 - Invest Lithuania
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Lithuania’s business services report 2018
Table of
contents
PREFACE 2
INDUSTRY OVERVIEW
1/ Location 4
2/ Sector growth 6
3/ Saturation 7
4/ Sector overview 8
SURVEY FINDINGS
5/ Markets covered 10
6/ Functions 12
7/ Languages used 15
1
8/ Programming languages 16
9/ Robotic process automation 17
10 / Attrition rate 18
11 / Training 18
12 / Benefits 19
13 / Wages & wage growth 20
14 / Education level 22
15 / Cooperation with 23
educational institutions
TA B L E O F C O N T E N T S
ADDITIONAL INFORMATION
16 / Real estate 24
17 / Work in Lithuania 25
Preface
Dear Ladies and Gentlemen,
It is a great honor and pleasure to GBS sector is its ability to offer
introduce what is already our 4th companies the skills and competences
INDUSTRY OVERVIEW
Lithuanian Business Services Report, needed to deliver a diverse set of
in which we present and describe the functions and services under one roof.
Global Business Services industry in Businesses are increasingly turning to
Lithuania. Lithuania as a destination of choice for
centers supporting high-end projects
2017 was a great year for the GBS and functions, and for the establishment
sector with 1,600 new positions of Centers of Excellence in certain fields,
created, 17% sector growth, and such as RPA.
a 12.5% increase in the number of
employees. More than this, the desire and capacity
to innovate and improve processes
A number of key trends emerged, using the latest technology was very
indicating that the Lithuanian GBS pronounced in our findings. Almost
sector has hit real maturity. Its profile half of the GBS centers we surveyed
became more global in 2017, with are actively developing RPA solutions
Western European companies themselves (48%), while 47% of GBS
increasing their market share. Although centers already use advanced RPA
the Scandinavian market still retains a solutions. In fact, 31 robots are deployed
significant presence, in 2017 French on average per GBS center in Lithuania.
and German became the leading
spoken languages in centers after We trust this report will provide a
English. valuable insight into our sector as a
whole, and demonstrate why Lithuania
It is also becoming evident that the is the ideal location for forward-thinking
main value driver of the Lithuanian businesses.
2
LAISVIS MAKULIS
Head of Business Services Team
About the survey Survey data
gathered from
66%
Data was collected during April and
May 2018 by Invest Lithuania.
46 companies employing nearly 13,000
OF ALL CENTERS
professionals participated in the survey,
which accounts for 66% of all centers
86%
in the industry and 86% of its total
labor force.
OF THE TOTAL LABOR
FORCE IN THE INDUSTRY
Danske Bank Group Lithuania
office in Vilnius
1/
Location Number of
centers in
UNIVERSITIES & COLLEGES
each city Vilnius 17
Kaunas 12
Klaipeda 6
2.8
TOTAL POPULATION
STUDENTS
Vilnius 58K
Kaunas 40K
M
Klaipeda 9K
Source: Ministry of Education and Science, 2017-2018
800K
VILNIUS POPULATION
VILNIUS-KAUNAS HUB
560K
KAUNAS POPULATION
1.4
POPULATION
M 100
STUDENT POOL
K
320K
KLAIPEDA POPULATION
Source: Statistics Lithuania, 2018
4 5
The best emerging city for
TOTAL SIZE OF THE GBS INDUSTRY shared services and
outsourcing in CEE in 2015
Source: Shared Services &
Outsourcing Awards, 2015
70
GBS CENTERS
~15,000 SPECIALISTS
The best location for
shared services and
outsourcing since 2014
Source: Shared Services &
Outsourcing Awards, 2018
Centers co-located
in Vilnius & Kaunas
I N D U S T RY OV E R V I E W
I N D U S T RY OV E R V I E W
In 2017 the Global Business Services successfully positioning itself as an two foreign languages, Lithuania is a
industry in Lithuania grew steadily, emerging GBS hot spot in CEE. Vilnius natural choice for companies seeking
both in the number of jobs created and Kaunas are increasingly asserting a new GBS location.
and the scope of its operations. At the their position as a unified GBS Hub,
beginning of 2018, Lithuania’s GBS with a total population of 1.4M people The Lithuanian GBS labor pool is truly
sector consisted of 70 GBS centers, and a student pool of nearly 100K. As international in its composition, with
employing approximately 15,000 the leading country in terms of higher 14% of the workforce composed of
specialists. While Vilnius remains the education in the EU, and with 80% foreigners and Lithuanian repatriates.
first choice for most investors, Kaunas English proficiency among its youth and
has demonstrated steady growth, half of its population speaking at least
2/
Sector growth 3/
Saturation
The saturation rate in Lithuania remains their scope also provides ample markets quickly and easily. Moreover, in
lower than in other established GBS evidence that this low saturation is the long term low saturation creates a
locations in CEE, making it a favorable being leveraged by global businesses favorable environment for a lower
location for investors conducting looking to secure sustainable growth. attrition rate and sustainable wage
location assessment. The growing growth in the industry.
number of companies starting This low level of saturation enables new
Number of centers: operations in Lithuania and increasing investors to enter and scale up in new
2017 / 70
2016 / 60 People employed in Global Business
Service centers per 1,000 residents:
Kaunas 7.8
2015 / 52 Szczecin 12.1
Lublin 14.3
Vilnius 23.0
6 2014 / 45 7
Warsaw 24.2
Lodz 24.5
Maintaining sustainable growth,
the Lithuanian GBS industry has
Tri-city 26.1
increased by four times since 2007.
2013 / 36 At the beginning of 2018, Lithuania’s
GBS sector consisted of 70 GBS Budapest 26.3
centers, achieving annual growth of
17% in 2017.
Prague 31.1
2012 / 32 Vilnius remains the country’s main
GBS location, growing by 10%
in 2017, although Kaunas also Bucharest 47.3
experienced a successful year in
terms of new business attraction, Wroclaw 62.7
and demonstrated industry growth of
2011 / 27 50%.
I N D U S T RY OV E R V I E W
I N D U S T RY OV E R V I E W
Krakow 73.2
2017 saw both large global
2010 / 23 companies and smaller niche
enterprises choose Lithuania, an
accurate reflection of the country’s
2009 / 22 capacity to welcome investors from
a diverse range of profiles and
company sizes.
2008 / 19 Sources: Business Services Sector in Poland 2017,
Business Services Sector in Czech Republic 2017,
Hungarian Shared Services and Outsourcing insights 2017,
ABSL Outsourcing Industry Report 2017,
2007 / 16 Source: Invest Lithuania, 2018 National Statistics Departments
4/
Sector By HQ location
overview The Lithuanian GBS industry is highly
impacted by its close geographical and
cultural ties with the Scandinavia region.
have made it the smart choice for
Nordic investors, who currently
employ 39% of the total GBS
Altogether, Nordic-owned companies labor pool.
comprise nearly half (44%) of all
GBS centers in Lithuania. Lithuania’s The US, meanwhile, remains the
By employment proven Nordic language skills, business leading single investor in Lithuania,
By number of centers mindset, and similar working culture employing 35% of the industry.
35%
44%
23%
SURVEY FINDINGS
20%
17%
39%
12%
11%
10%
10%
9%
9%
9%
6%
6%
6%
4%
4%
3%
2%
2%
3%
USA
Denmark
UK
Sweden
Norway
Luxembourg
Germany
Netherlands
Finland
Other
Nordics
8 By sector
The Lithuanian GBS industry is GBS industry has experienced strong
dominated by investors from three main growth in the number of centers
sectors. GBS centers established by established by manufacturing, logistics
financial services companies currently and engineering companies, which now
employ more than half of the total account for nearly one-third of all GBS
workforce and account for 20% of all centers in the industry.
centers. In recent years, the Lithuanian
Financial services 53%
20%
23%
Information technologies
30%
I N D U S T RY OV E R V I E W
Business, information & 16%
communication services 17%
Manufacturing, logistics & 8%
engineering 29%
Tourism & foreign 0.2%
By employment Green Hall 2 Business
government 4%
By number of centers Center in Vilnius
5/
Markets covered 26% SERVE 3 Top 10 European countries:
OR MORE
REGIONS United Kingdom 65%
41%
Regions covered by Europe remains the key market served well positioned and developed to serve
SERVE 10 Sweden 61%
share of centers: by Lithuanian GBS centers, with the as a truly global base that ensures
strongest focus given to Scandinavia – the provision of smooth and effective OR MORE Denmark 59%
80% of centers provide services to this support. COUNTRIES
Norway 54%
region. The Lithuanian GBS sector is
Finland 48%
Lithuania 46%
Germany 43%
Netherlands 33%
Portugal 33%
LT Latvia 30%
GMT +2
96 %
Top 5 Asian countries:
Singapore 11%
EUROPE India 9%
China 7%
Hong Kong 4%
Japan 4%
10 11
39 %NORTH
AMERICA
24 %
ASIA
SU RVEY FI N D I NG S
SU RVEY FI N D I NG S
20 %
SOUTH
AMERICA 15 %
AFRICA 24 %
AUSTRALIA,
OCEANIA
6/
Functions
Share of centers performing function:
Software Development (Back end) 50% Recruitment 33%
Software Development (Front end) 48% Administration & Reporting 26%
HR
IT Service Desk 41% Payroll 22%
Infrastructure Management 39% Compensation & Benefits 20%
Big Data Analytics / Data Science 39%
IT
Software Development (Mobile) 35%
Business Intelligence 35%
Application Lifecycle Management 33%
Cybersecurity 17% 17% Banking Specific Services 11%
BFIS
Engineering 4% Insurance Specific Services 9%
Financial Specific Services 9%
Accounts Payable 48%
Accounts Receivable 48%
Reporting 46%
12 13
General Ledger Analytics 43%
41%
Robotics 26%
Business Controlling 39%
F&A
Travel & Expenses Business Transformation 24%
33%
Knowledge Management 20%
Master Data Management 28%
Marketing 20%
Treasury 15%
OTHER
Supply Chain Management 20%
Audit 11%
Engineering (Non-IT) 17%
Anti-Money Laundering 4%
R&D 17%
Document Management 13%
Legal Processes 11%
SU RVEY FI N D I NG S
SU RVEY FI N D I NG S
Capital Markets Specific Services 7%
Customer Helpdesk 33% Other 9%
CO
(Back office operations)
Sales & Account Management Support 26%
7/
Languages
The vast majority of Lithuanian GBS Lithuanian centers have displayed
centers are multifunctional, providing a tendency to include more diverse Lithuanian GBS centers remain highly Nordic languages. This is due in part
at least two streams of services to their functions and operations into multilingual. 43% of all centers serve in to the increased flow of investment
five or more foreign languages. English and entrance of new companies from
used
clients. Multifunctionality is becoming their activities. Functions such as
increasingly integrated within the initial Cybersecurity, Engineering, Anti-Money is the most popular language spoken, Western Europe with a strong focus
operational scope of new GBS centers. Laundering, Audit, Capital Market especially in GBS centers focusing on on their home markets: German and
Meanwhile, established centers are services and Robotics are increasingly IT. French-speaking clients are each served
also broadening their functions. playing an important role in Lithuanian by 38% of GBS centers, respectively.
As the GBS industry has grown, GBS operations. Western European languages for
the first time have gained a lead over
Share of centers by number 59% 36%
of functions performed: Share of centers by number
of languages spoken:
27%
16%
15% 17% 13%
9% OF CENTERS ARE
MULTIFUNCIONAL, PERFORMING 7%
TWO OR MORE FUNCTIONS 4%
1 2-4 5-7 8+
THE LARGEST NUMBER
Number of functions 1 2 3 4 5 >6 OF LANGUAGES USED
Number of languages IN A SINGLE CENTER
Reflecting global trends, the Lithuanian industry, currently employing
GBS industry is increasingly shifting one-third of Lithuania’s total GBS
towards ICT and various other digital workforce. Customer operations Share of centers by English 96%
operations. IT is the leading field and Finance and accounting language spoken:
operations also figure highly.
14 of operations within the local GBS French 38% 15
German 38%
Share of employees Swedish 36%
by function:
Norwegian 29%
IT 29%
Italian 24%
Customer operations* 25%
Russian 24%
F&A 17%
Danish 22%
HR 2% Finnish 22%
Engineering (non-IT) 2% Compliance Spanish 20%
Legal
Procurement 1% Polish 18%
Risk Management
SU RVEY FI N D I NG S
SU RVEY FI N D I NG S
Other 24% Sales & Marketing Support Portuguese 7%
Digital operations Hungarian 7%
Communications
Slovakian 4%
Business Support
Administration Other 11%
(Dutch, Greek, Latvian)
*Customer operations cover not only call center
functions but also the broader scope of overall
customer operations.8/
Programming 9/
Robotic process
languages As a result of its high-quality IT
infrastructure and eagerness to develop
the IT market. In recent years there has
been an increase in people entering
automation
local talent, the local GBS industry is various IT re-training programs to join
naturally focused on the ICT industry. the growing Lithuanian IT labor pool. The majority of GBS centers in Lithuania
deploy RPA tools and are active in
Lithuanian talent tends to follow the An average center uses at least six developing those tools themselves.
ROBOTS DEPLOYED AT
latest trends in the IT industry and is different programming languages, with 67% of centers use RPA in their daily
GBS CENTERS ON AVERAGE
highly willing to re-qualify and enter the number of languages used in some operations, and almost half of those are
centers exceeding ten. involved in developing solutions in-house
using local talent. The most popular
RPA software providers are Blue Prism,
UiPath, and Automation Anywhere.
2.3
OF TOTAL GBS
WORKFORCE
%
ARE ROBOTS
Wix.com office in Vilnius
67
GBS CENTERS USING
RPA SOLUTIONS
%
16 17
Share of centers SQL 85%
by programming
48 %
language used: JavaScript 78%
Java 78%
.NET 63% GBS CENTERS
DEVELOPING RPA
C# 48% SOLUTIONS IN-HOUSE
C++ 41%
Python 41%
Share of centers by level
PHP 33%
of RPA:
Scala 11%
Basic Process Automation 32%
SU RVEY FI N D I NG S
SU RVEY FI N D I NG S
(simple VBA scripts, spreadsheet based, simple data)
Ruby/ Ruby on rails 11%
Robotic Process Automation
(RPA tools, simple rules, structured data)
45%
C 7%
Advanced Process Automation
SWIFT 4% (pre-cognitive & cognitive solutions) 10%
Other 26% Autonomic Process Automation
(automation of complex rules, unstructured data) 13%10 /
Attrition As many Lithuanians are eager to work
for international companies so that
they can build their careers on a global
performed. Centers performing wide
range of complex functions with
significant number of senior positions
12 /
Benefits It is not only additional professional
training that incentivizes local GBS
talent, they are also keen to secure
to addressing the needs of their
employees, with the most popular
and appreciated benefits being
rate level, GBS centers are consistently
recognised in polls as the most desirable
employers in the country. This enables
experienced substantially lower attrition
rates. Most of the Customer contact
centers focusing on simple tasks
a healthy work-life balance. In this,
GBS centers are highly responsive
private health insurance and
sports packages.
centers to attract the best talent from indicated higher attrition rates, as they
the market and retain it for a long time. provide work opportunities for fresh Share of centers by
graduates and students. These centers benefits provided:
Attrition rate highly correlates with the act as a first stepping stone for young
complexity and maturity of the functions professionals starting their careers. Private health insurance / medical pack 80%
73
Sports / entertainment 72%
%
Share of centers by
attrition rate: =21% 28% 27% BY FOREIGN MANAGERS
Preferential share purchase options 13%
Child / infant care subsidies, kindergarten 7%
Other
Training
24%
11 / Even though most employees are
highly educated, additional training
responding in kind and offering a
wide range of training to their staff.
and development opportunities are Such investment is observed to
viewed as a real incentive. The high have had positive overall effects –
level of staff requests for training is with results ranging from increased
something that was noted by a number productivity and effective teamwork
of our respondents, with the sector to higher retention rates.
Share of centers by
training provided:
18 19
Managerial coaching 78%
Soft skills
(incl. social communication, emotional intelligence) 74%
Project management
(e.g. PMP, Agile, Scrum, Prince, Prince 3) 48%
Language training 46%
(without certification)
Language training 41%
(incl. certification)
Computer and internet technology 35%
(e.g. CISA, ITIL)
Business analysis 28%
(e.g. 6 Sigma, CBAP)
RPA Training 28%
SU RVEY FI N D I NG S
SU RVEY FI N D I NG S
Financial 26%
(e.g. CIMA, CIA, ACCA, CFA, GAAP)
Supply chain 7%
(e.g. APICS)
Marketing 2%
(e.g. CIM)
Other 15%
Danske Bank Group IT office in Vilnius13 /
Wages & wage growth AREA POSITION
Gross salary range in Vilnius, €
MIN. AVG. MAX.
Gross salary range in Kaunas, €
MIN. AVG. MAX.
Both IT and non-IT salary levels grew at Average wage growth: Junior Specialist
almost the same rate in 2017. However, 843 1 022 1 217 735 906 1 077
(0-2 years’ experience)
a more rapid growth is predicted for IT
specialists in 2018. IT/2017 6.1%
Specialist 1 217 1 472 1 727 1 043 1 303 1 563
IT/2018 (2-5 years’ experience)
7.5%
(projected)
Senior Specialist 1 727 1 988 2 250 1 563 1 830 2 077
(over 5 years’ experience)
HR PROCESSES
Non-IT/2017 6.2% Team Leader
2 250 2 798 3 347 2 077 2 550 3 057
(team of 5-15 people)
Non-IT/2018 5.3%
(projected)
Junior Specialist
Gross monthly salary (in Eur) at GBS (0-2 years’ experience)
904 1 084 1 282 750 967 1 184
centers for employees who speak English:
Specialist
1 369 1 781 2 211 1 228 1 607 2 002
(2-5 years’ experience)
Senior Specialist
Gross salary range in Vilnius, € Gross salary range in Kaunas, € 2 284 2 653 3 067 2 119 2 520 2 921
(over 5 years’ experience)
AREA POSITION
MIN. AVG. MAX. MIN. AVG. MAX. Team Leader
2 419 2 949 3 479 2 419 2 899 3 379
(team of 5-15 people)
Junior Developer
Junior Accountant IT 1 075 1 424 1 756 892 1 267 1 624
(0-2 years’ experience)
(0-2 years’ experience)
787 997 1 207 723 894 1 065
Specialist Developer
Accountant
1 854 2 338 2 822 1 673 2 099 2 525
1 123 1 433 1 707 1 031 1 239 1 464 (2-5 years’ experience)
(2-5 years’ experience)
Senior Developer
Senior Accountant 2 865 3 353 3 842 2 665 3 034 3 413
(over 5 years’ experience)
1 610 1 903 2 263 1 427 1 655 1 917
(over 5 years’ experience)
F&A: Team Leader
AP / AR / GL Team Leader
2 921 3 470 4 020 2 921 3 376 3 832
(team of 5-15 people)
1 970 2 342 2 713 1 717 2 032 2 380
20 (team of 5-15 people)
21
Junior Specialist
(no experience)
740 823 887 656 733 792 Junior Engineering
Support specialist 1 177 1 331 1 556 1 053 1 227 1 456
Specialist (CAD, FEA, CFD,
947 1 092 1 307 831 940 1 193 0-2 years’ experience)
(over 1 year experience)
Team Leader Engineering
CUSTOMER 1 660 1 887 2 115 1 530 1 698 1 868
(team of 5-15 people) Support Specialist
OPERATIONS 1 686 1 995 2 304 1 532 1 808 2 083
ENGINEERING (CAD, FEA, CFD2,
2-5 years’ experience)
Junior Specialist
(0-2 years’ experience)
827 986 1,162 723 861 998
Specialist
1 212 1 498 1 785 1 031 1 239 1 464
(2-5 years’ experience)
Language Premiums: DK DE
Senior Specialist
1 785 1 982 2 291 1 530 1 713 1 896 FI NO FR
(over 5 years’ experience) SP
SU RVEY FI N D I NG S
SU RVEY FI N D I NG S
PROCUREMENT,
ORDER SE IT
MANAGEMENT Team Leader
15-20% 10-15%
(team of 5-15 people) 2 247 2 755 3 262 2 094 2 490 2 887
DANISH, FINNISH, FRENCH, GERMAN,
NORWEGIAN, SWEDISH ITALIAN, SPANISH
Source: Alliance for Recruitment, 2018
Strategic Staffing Solutions, 2018
Amston Recruitment, 201814 /
Education Lithuania’s GBS sector remains a
favorable and attractive environment for
highly educated Lithuanian specialists –
third of all employees have a master’s
degree. This demonstrates that the
country’s best talent is attracted to
15 /
Cooperation
level 88% of the total workforce possess a
higher education degree. Nearly one
the complex operations that the local
GBS sector has to offer. with educational
institutions Cooperation between business and
academia is steadily progressing
relationships with universities and other
educational institutions. The ways in which
Share of employees by towards long-term working models companies cooperate with universities
highest level of education: for the development and utilization of are becoming more diverse and mature –
local talent. Instead of various ad-hoc ranging from the provision of scholarships
projects, companies are striving to and internships to joint study programs
create valuable collaborative that address specific market needs.
Doctoral degree 1%
Share of centers cooperating
Master’s degree 29% with universities:
Bachelor’s degree 59% KTU 39% VMU 24%
Kaunas University of Technology Vytautas Magnus University
EMPLOYEES WITH
Secondary school 12% TERTIARY EDUCATION VGTU 37% MRU 15%
Vilnius Gediminas Technical University Mykolas Romeris University
VU LSMU
Vilnius University 30% 9%
Lithuanian University of Health Sciences
ISM
ISM University of Management & Economics 24%
Vilnius Vilnius Gediminas
University Technical University
Vilnius University is the largest and VGTU is one of the leading universities
oldest scientific institution in Lithuania. for technological sciences in the Baltics
VU is actively engaged with Barclays, states. VGTU is focused on the fields
which opened its mobile application of ICT, fintech, cybersecurity, smart
creation lab “Innovation space” at the cities, urban mobility, engineering, etc.
university in 2013. VU also cooperates Examples of its business partnering
22 with the IT services company DXC include Danske Bank and Bentley 23
Technology, which acts as official systems’ programs of internships
partner for some of VU’s bachelor and work placements, lectures,
programs, and opened a university industrial PhD programmes and
lounge zone in 2017. student mentoring.
ISM University of
Kaunas University
Management &
of Technology
Economics
KTU is the leading university for ISM University was the first private
technology studies in both Lithuania university to be established in Lithuania.
and the Baltic region. KTU has been It focuses exclusively on Economics,
actively cooperating with Festo since Business Management, Politics, Finance
2014, with the company agreeing to and Innovation. ISM University began its
provide scholarships and organize IT cooperation with Cognizant Technology
subject-related seminars and lectures, Solutions in 2016, when the company
as well as invite students for internships started to sponsor Norwegian language
SU RVEY FI N D I NG S
SU RVEY FI N D I NG S
at both its Kaunas branch and the courses. Both Cognizant Technology
company’s headquarters in Germany. solutions and Transcom provide
The university has also enjoyed close scholarships to ISM students.
and productive collaboration with the
company Intermedix, which established
a specialized Innovation and Creativity
Lab at KTU in 2015.16 /
Real VILNIUS
Twelve office buildings totaling
KAUNAS
Kaunas office stock increased by
17 /
Work in
Estate Lithuania
150,000 sq.m are currently under 44% in 2017, with 11 office buildings
development in Vilnius. 50% of space is (44,000 sq.m) opened. This growth is
pre-let, which means that approximately set to continue with 17 new openings
75,000 sq.m are available for rent in (99,000 sq.m) scheduled for 2018
2018 and 2019. A further 100,000 sq.m and 2019. Most of the space is being
is scheduled for commissioning in 2020, built speculatively, providing sufficient Work in Lithuania is the talent attraction talent to choose Lithuania for their employers in Lithuania together with the
including a 60,000 sq.m office campus choice for potential occupiers. and relocation program initiated by career path and facilitates relocation most ambitious candidates, to develop
to be commenced this year by Vastint Invest Lithuania in 2017. The program processes when needed. Work in the Lithuanian talent ecosystem at a
(IKEA’s real estate development arm). Vacancies are expected to increase aims to encourage and attract foreign Lithuania brings the most prominent national level.
slightly from the current level of 11%
Looking to the future, more than due to multiple new speculative office
300,000 sq.m of office space has been developments in Kaunas.
designed and is currently awaiting
pre-lease agreements. Vacancies are
9,000
expected to increase slightly in the
coming years, from their current average
of 3%.
Class A average 15.5 EUR/sq.m Class A average 12.5 EUR/sq.m MONTHLY PLATFORM
VISITORS ON AVERAGE
Class B average 12 EUR/sq.m Class B average 10 EUR/sq.m
Depending on specific demand and deal structure tenants can expect rent incentives including
70+
fit-out contributions, rent free periods, etc.
INTERNATIONAL COMPANIES
ACTIVE ON THE PLATFORM
207
24 25
workinlithuania.lt MONTHLY APPLICATIONS
ON AVERAGE
Top 5 countries visiting the
Work in Lithuania platform:
Dematic office in Kaunas Skandia office in Vilnius
Common tendencies:
A D D I T I O N A L I N F O R M AT I O N
A D D I T I O N A L I N F O R M AT I O N
In both Vilnius and Kaunas, the overall sports facilities, retail, serviced offices have a range of options when it comes
quality of office stock is very high as and co-working, etc.). Sustainable to choosing their premises, as well
the markets are dominated by new development is also a trend, with most flexibility when it comes to planning their UK
constructions that are driven by the developers designing and building establishment and expansion. 47%
needs of demanding tenants who are in line with either BREEAM or LEED
using space as a tool to attract and standards. Large-scale schemes are increasingly IRELAND
8%
retain talent. entering the market. Notable recent
Developers have become examples include the Technopolis
DENMARK
Most new developments offer accustomed to a market in which the campus, Quadrum, Park town, Business
8%
super-efficient space usage and layout majority of space is let during the Stadium, Vilnius Business Garden and
structures, big floor-plates (1,000 sq.m 6 months before and 6 months after more. Such office schemes allow
NORWAY
and more), and top-tier infrastructure the building’s commissioning. This has large-scale occupiers to establish and USA 7%
(choice of restaurants and cafes, comfort resulted in a great deal of speculative plan growth in the same building or 9%
for cyclists, car sharing, meeting rooms, building. This means that tenants same campus/area.Business services team
LAISVIS MAKULIS LAURA BALSIUKE
Head of Business Services Team Senior Investment Advisor
Laisvis.Makulis@investlithuania.com Laura.Balsiuke@investlithuania.com
+370 (5) 219 4313 +370 (5) 212 0874
RUTA LABALAUKYTE LUKAS INOKAITIS
Senior Investment Advisor Senior Investment Advisor
Ruta.Labalaukyte@investlithuania.com Lukas.Inokaitis@investlithuania.com
+370 (5) 204 7801 +370 (5) 204 7809
MONIKA VILKELYTE DALIA LIESYTE
Investment Advisor Investment Advisor
Monika.Vilkelyte@investlithuania.com Dalia.Liesyte@investlithuania.com
+370 (5) 212 0874 +370 (5) 204 7832
Upes st. 23, Vilnius, Lithuania
info@investlithuania.com
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ARTUR RTISCEV
Head of Business Development in the UK
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