Hire in Bosnia and Herzegovina
Bosnia and Herzegovina, commonly known as Bosnia, is a sovereign state in Europe. This nation has a rich history. The Mediterranean climate makes it a desirable location to live. Bosnia and Herzegovina have a very high unemployment rate of 18.3%. This is due to the political instability in the nation. But if you are thinking of getting a job in Bosnia and Herzegovina, you will enjoy all the beautiful things this country offers.
Overview of Bosnia and Herzegovina
Bosnia and Herzegovina have a huge war history. It has fought, won, and lost several wars. This has made a dent in their economy. Bosnia and Herzegovina still have an upper-middle-income economy. The market reforms in this nation are very limited. Slow economic growth has been recorded in Bosnia and Herzegovina. But the pandemic of COVID-19, the nation has been set back by a lot.
Total population – 3.3 million
GDP – US $21.953 billion (36.37 billion BAM)
Its history greatly influences the economy of Bosnia and Herzegovina. Bosnia and Herzegovina have a nominal GDP of US $21.953 billion (36.37 billion BAM). This makes the per capita income to be US $6,727 (11,146.20 BAM). The PPP GDP of Bosnia and Herzegovina is much greater than the nominal GDP. The PPP GDP of Bosnia and Herzegovina is US $51.996 billion (86.15 billion BAM), and the per capita income is US $15,935 (26,403.26 BAM).
The agriculture and tourism sector rules the market of Bosnia and Herzegovina. The World Tourism Organisation has estimated a substantial growth in the tourism sector of Bosnia and Herzegovina in the upcoming years.
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A brief glimpse of the industries
- The tourism industry of Bosnia and Herzegovina has been performing well in the past decade. But as the pandemic hit the nation, there was almost a complete halt to this industry. The loss incurred during this time is very high, and it will take Bosnia and Herzegovina years to recover.
- The telecommunications sector of Bosnia and Herzegovina is completely liberalised. There are three prominent landline providers in the country. The internet has been established quite well almost all around the country. 86.77% of the total population of Bosnia and Herzegovina is currently known to use the internet.
Cost of living in Bosnia and Herzegovina
Cost of Renting
The cost of renting in Bosnia and Herzegovina is quite low as compared to most European countries. You can easily rent a one-room apartment in the city centre for US $200.
Cost of living depending upon your location
- Tier 1 cities of Bosnia and Herzegovina are Banja Luka, Sarajevo, Tuzla, etc
- Tier 2 cities of Bosnia and Herzegovina are Ilidža, Cazin, Zvornik, etc
- Tier 3 cities of Bosnia and Herzegovina are Teslić, Kakanj, Zavidovići, etc
Mentioned below are details regarding the cost of living in the leading Tier 1 and Tier 2 cities of Bosnia and Herzegovina.
Top skills in Bosnia and Herzegovina
Bosnia and Herzegovina is a creative nation. It has good companies that do textile manufacturing. To get a job opportunity in Bosnia and Herzegovina, you should have business and management skills. Agriculture is the primary occupation, has a vital role.
Major skills and areas which have witnessed a recent growth rate
The cost of hiring is a necessary investment in the future of the company is determined with care. All the factors are taken into consideration before allocating funds to the hiring cost. Following are some of the factors taken under consideration –
- Time investment
- Personnel required
- Interview process
Employment laws in Bosnia and Herzegovina
Bosnia and Herzegovina have well-defined employment and labor laws. The following aspects are taken under consideration while drafting the employment laws –
- Nature of work
- Working hours
- Salary and bonuses
- Holiday entitlement
- Period of notice
Following are the bodies that ensure the employment laws are followed and no breach is made –
- Employment contracts
- Employment Law of the Federation of Bosnia and Herzegovina
- Official Gazette of FBiH, no. 26/16 and 89/18
How Can Skuad Help You with Hiring in Bosnia and Herzegovina?
If you are looking to conduct a recruitment process in Bosnia and Herzegovina, you need to be aware of the various rules and regulations that are in place. Moreover, you must spend considerable time and resources on the same. With experienced consultants, Skuad is adept at handling all your recruitment requirements. Connect with Skuad Experts to know more.