This article presents an empirical study to validate the cost drivers specifically tailored for Global Software Development (GSD) and insight into current cost estimation models being used in GSD. Through a systematic literature review (SLR), the study looks at the most common models and comes up with a list of GSD-based cost drivers. This research investigates the relevance of these drivers and models through a structured survey of industry practitioners. The paper reviewed previous research on the topic, went into more detail about the research methodology, analyzed survey data, discussed the theoretical implications, and ended with suggestions for future research directions in estimating GSD costs. An extensive survey of GSD professionals provides real-world data that can be used to judge how accurate the model is and how relevant the cost drivers are. The study’s findings contribute to a better understanding of cost estimation in GSD, offering a validated framework for industry application. It concludes with a call for further research to refine these models and drivers, ensuring their adaptability and effectiveness in the evolving GSD landscape.