How the Bosnian Diaspora Is Fueling Business Growth and U.S. Investment in BiH

The economic relationship between Bosnia and Herzegovina and the United States is growing stronger by the day. With a Bosnian-Herzegovinian GDP of $24.4 billion and a GDP growth rate of 2.6% in 2024, the country is attracting increased foreign investment. Investments surged 24% in 2023 to $1.087 billion, with the production, trade, banking, and ICT sectors leading the charge.

The numbers tell a compelling story of growing bilateral trade between the two countries: $135 million in exports from BiH to the US and $109 million flowing in the opposite direction in 2024.

Approximately 50 US and US-affiliated companies have established full-time operations in Bosnia and Herzegovina, including technology leaders such as Microsoft, Oracle, and Cisco; consulting giants Deloitte, PwC, EY, and KPMG; pharmaceutical companies like Pfizer and Johnson & Johnson; and logistics providers like FedEx and UPS.

This expanding American business presence, combined with Bosnia's projected economic growth of 2.7% in 2025 and 3.1% in 2026, creates additional opportunities for deeper international collaboration. The panel discussion "Diaspora & BH Business Community: A Strategic Bond for Accelerated Growth," co-organized by Klika and the Bosnia & Herzegovina Futures Foundation (BHFF) in Chicago, addressed how the Bosnian diaspora can serve as a strategic bridge to unlock this potential and accelerate economic partnerships between the two nations. 

The Diaspora as a Bridge Between Markets

The panel took place before an audience of Bosnian-Herzegovinian professionals based in the United States. Edin Deljkić, as co-founder and CEO of Klika, is positioned at the intersection of the country's growing ICT sector and international business development. With extensive involvement in the IT industry and lobbying successes that have led to policy changes, Deljkić is well aware of Bosnia and Herzegovina's attractiveness to foreign investors.

There are numerous reasons for this.

„Country's geographical position makes us well-connected with the whole of Europe, and a couple of flights away from any larger American city. Time zone is also a good factor that plays into the role. Bosnia and Herzegovina is a signatory to different trade agreements like CEFTA, EFTA, EU trade agreements, and the Turkey FTA agreement,“ said Deljkić.

As Deljkić pointed out, the corporate income tax rate is just 10%, and there is no tax on dividends. That is a major incentive for foreign investors in Bosnia and Herzegovina. 

U.S. Investors Discover Untapped Potential

Jason Whiteside brought a unique perspective, being both a legal professional and an active investor in Bosnia and Herzegovina. Whiteside is an attorney, founding partner of Whiteside & Goldberg Ltd. However, he also serves as a founder of Innovative Management Solutions, based in Živinice. Innovative Management Solutions currently has 120 employees.

“To be honest, I barely could place Bosnia and Herzegovina on the map when I started the office in 2017,” said Whiteside jokingly. “My partner at the time was from Bosnia, displaced during the war. We decided to start with one of our family members, and then it’s just grown from there.”

Whiteside explained that there is something much more valuable in the Bosnian-Herzegovinian market than competitive labor rates.

“What’s more attractive and caused Innovative Management Solutions to expand the office was the work ethic, which is better in Bosnia and Herzegovina. No offense to the Americans—I’m one of them, obviously—but the work ethic there [in Bosnia and Herzegovina] was better,” stated Whiteside. 

Diaspora-Led Foundations and Long-Term Vision

The third speaker on the panel discussion was Edhem Eddie Čustović. In 2015, alongside his brother Rešad, he co-founded Bosnia & Herzegovina Futures Foundation. Čustović is a business owner, public speaker, entrepreneur, and philanthropist. BHHF serves as the entrepreneurial bridge between diaspora networks and homeland development, with a focus on empowering youth.

Čustović's desire to help Bosnia and Herzegovina stems from his time as a seven-year-old refugee in Switzerland. Today, he understands one of the basic principles of economic growth.

„We all have an active role to play in creating excellence, and it's underpinned by the quality development of young people. Without that, we will not see positive change in politics because you can't expect good to come from BS, so we need to invest. And that's exactly what the [Bosnia-Herzegovina Futures] Foundation does, and that's what our underlying motivation really was. It's about creating the next generation of thought leaders, engineers, doctors, lawyers, people that are going to change Bosnia for the good”, stated Čustović. 

Long-Term Partnerships and International Confidence 

Klika has numerous strong partnerships with US clients. The average tenure, as Deljkić stated, is 3–5 years, although several clients have been working with Klika since the company’s launch.

“American companies see great potential in us. For some of them, we are their sole or preferred vendor, as they truly trust us. They like the quality of our work. They think of us not just as a company, but as partners who will help them solve their problems. That’s why we opened an office here in the US and not Berlin,” said Deljkić.

Whiteside says clients of Innovative Management Solutions serve the cycle management and healthcare industries. At first, their clients found it odd that the company is in Bosnia and Herzegovina. Once they understood the level of professionalism and language proficiency of Bosnian-Herzegovinian workers, there was no turning back.

“We don't have clients leave, ever. We keep continuing to grow and grow. No doctors ever call me and tell me, “Hey, I can't take this. I can't take talking to them. I can't understand what they're saying.” They love it. They love that their revenue goes up every month. We have artificial intelligence, everything, and it’s being built out of Bosnia [and Herzegovina] now. And they're driving that. And there's never any contemplation of, 'Hey, should we pull the plug on Bosnia?' Never, ever, ever. It's ‘How do we build it faster, bigger, better?',” explains Whiteside. 

A Strategic Role for the Bosnian Diaspora

Politically, relations between Bosnia and Herzegovina and the United States have been strong for over 30 years. The United States has maintained a steady partnership with a small European country since the signing of the Dayton Peace Agreement. Still, there is a prominent Bosnian-Herzegovinian diaspora movement, which Deljkić finds instrumental in helping Bosnian-Herzegovinian companies gain a larger share in the global market. This insight stems from Klika’s experience.

„Since we established our company more than 10 years ago, all the major clients with whom we have worked have always had some connection to Bosnia that we had the opportunity to meet, and who essentially paved the way for us or helped us enter that company and initiate the initial project. For us, it’s just the first connection and the first opportunity that is important, and we will do the rest of the work,” says Deljkić.

For Whiteside, investing in Bosnia and Herzegovina feels like a natural step.

“Whether it’s blue-collar or white-collar jobs, I think there are a lot of positives in every part of the country that I’ve been to. And I don’t see it slowing down either. I don’t know what the future holds, but there’s definitely an accelerated growth in Bosnia right now compared to the United States. It’s a great opportunity to jump in. In the eight years that I’ve been there, it’s the fastest growth,” said Whiteside. 

A Call to Action for the Diaspora

Čustović, who now spends more time in Bosnia and Herzegovina, had a powerful message for the diaspora community members in the audience.

“My final thought for you is really to think about what it is that you’re doing today, and what is it that you can increase by even just 1%, because that collective approach to problem solving in Bosnia has a huge impact. The fact that you’ve all come here this evening means that you have taken a proactive role in shaping Bosnia’s future. So my challenge to you is: find a way that you can contribute meaningfully to Bosnia by 1% more than what you’re doing right now,” said Čustović.

The evening concluded with numerous audience questions and overwhelmingly positive feedback, underscoring the importance of diaspora-led business engagement. The panel discussion, "Diaspora & BH Business Community: A Strategic Bond for Accelerated Growth," proved to be a valuable event for those interested in supporting the Bosnian-Herzegovinian market, (re)discovering their ancestral homeland, and exploring new business opportunities in Bosnia and Herzegovina.