The Serbian IT industry is rapidly growing and changing pace. In 2018, IT services exports reached $1.3 billion. With 6,924 companies in the IT sector (), Belgrade is one of the information technology centers in this part of Europe, with strong growth. Microsoft Development Center located in Belgrade was at the time of its establishment fifth such center in the world. Many world IT companies choose Belgrade as regional or European center such as Asus, Intel, Dell, Huawei, NCR, Ubisoft etc. These companies have taken advantage of Serbia's large pool of engineers and relatively low wages.