Top 10 IT hotspots in the world

A majority of the Indian migrant population is engaged in tech jobs worldwide. The skill gap prevailing in developing economies like Canada, UAE, or Singapore makes finding native workers with imperative skillsets harder. Therefore, these nations source talents from other parts of the world. India is the favourite destination to source highly skilled workers for these countries due to the following reasons:

• Indian individuals are highly skilled and employable because of the robust education system.
• Indians have always been a reliable source of talent for advanced technical skills such as IT, software development or web development.
• Some Indian universities are ranked among the top global universities.

The education system in India is built to focus on the needs of the western business in order to fill the gap in STEM-related fields. The command of the English language is another reason for global organizations to hire Indian aspirants. This international language of business is a major part of the school curriculums as well as institutes and universities all over India. Students graduating from English medium schools are proficient in the English language. Moreover, the majority of businesses in India also use English as their language of communication.

The supply and demand chain for tech workers is beneficial for both the Indian talents as well as Western businesses. While Indians secure a better quality of life and work, global organizations are able to compensate for the shortage of native skilled workers.??

Here are some big cities around the globe that have fully embraced the digital revolution and are providing a plethora of job opportunities for the tech-savvy job aspirants in India:

1. Toronto

Canada is said to have the world’s most dynamic workforce. With an abundance of natural resources, Canada is witnessing an economic upswing. It is a favourable destination for Indian tech professionals with ample job opportunities. Toronto is a sanctuary for highly skilled Indian IT workers. The ever-changing city consists of around 30 % of Canada’s IT firms and attracts many tech professionals and entrepreneurs who want to start their businesses. It is one of the fast-evolving technology markets across North America. The city is also home to some of the best academic institutions such as the University of Waterloo and the University of Toronto. Canada also initiated the Global Skill Strategy Program in 2017 which attracted highly skilled workers from all over the world. Individuals can directly apply for a Permanent Residency in Canada which makes it an enticing opportunity for Indian IT workers.?

2. Dublin

London's economy has been destabilizing after Brexit which has led huge European companies in the UK’s capital to think things through. Some of these European giants might be planning to move their companies away from London, in which case, Dublin might be a suitable alternative for such organizations for many reasons. Ireland has a cluster of innovative businesses and start-ups and hosts the youngest population in Europe.?The country attracts many strategic business activities of ICT companies and has become the global technology hub. The ICT industry in Ireland employs over 37,000 people and generates €35 billion in exports annually which has earned Ireland the reputation of being the heart of ICT in Europe. Dublin is an international city and is an attractive destination for new tech companies and global giants like Google, Facebook and Amazon. The city encourages new ideas and has a purpose-built innovation hub in Dublin City University’s Alpha campus that uplifts young companies and recent graduates with innovative business ideas.?

3. Amsterdam

The Netherlands is known to be Europe’s most wired country with a strong governmental focus on advancement in technology, excellent digital infrastructure as well an innovative and open economy. The nation attracts global businesses and innovative startups from across the globe because of the large population of the tech-savvy and multilingual workforce. With the government’s strong ambitions to tackle climate change, the tech industry of the Netherlands is promised to evolve rapidly with new opportunities and high demand for STEM skills. According to TecBridge, the demand for IT workers in the Netherlands has almost doubled resulting in 26 vacancies for every job-seeking tech worker. There were over 76,000 IT companies in the Netherlands as of 2020. The capital city Amsterdam is a major tech hub for industries such as life sciences & health, fintech, enterprise software and tourism. The tech sector in Amsterdam generates 14% of the region's jobs with approximately 77,000 positions which makes it the largest talent pool. The city’s broadband speed is the fastest in entire Europe and has one of the world’s largest data-transport hubs, AMS-IX.?Over 120 businesses focusing on 21st-century developments like AI and FinTech can alone be found at the Amsterdam Science Park.

4. Berlin

Germany has a rich past in the engineering sector and is known for its flourishing and luxuriating automobile industry as well as pharmaceutical industries. Germany also has a strong tech presence and is a booming destination for tech-savvy youth who wish to get experience in this field. The country is home to over 94,300 IT companies with an estimate of 1.03 million employees as of 2021, which makes it one of the largest ICT markets and the single largest software market in Europe. Germany also houses some of the most high-ranking universities known for their innovative endeavours. Major IT businesses such as Microsoft, Apple, Dell, Adobe, IBM, Oracle, and SAP have large market shares in the nation. The capital city, Berlin, is rapidly flourishing with ICT companies and innovative start-ups. The famous “Silicon Allee” in Berlin provides a lucrative platform for budding start-ups in the city who wish to participate in tech summits, events, networking sessions and conferences. With 34.8 % of FinTech businesses in the city, Berlin has become a FinTech hub over the years. Around 40 % of start-ups based in Berlin are based on AI.

?5. Copenhagen

Denmark is one of the most innovative and digitalized countries with a vibrant start-up community in all of Europe. The Danish citizens live in a completely digitalized world with cash and paperless foundations for banking, transportation and business services which makes it a world-leading hub for developing, testing and launching technological solutions. Denmark’s e-Government is ranked the highest in the world by the UN in 2020 with the most digitally advanced public sector and a world-class pool of public data. Over 250 FinTech startups are established in Denmark with Danish FinTech investment growing at a CAGR of 104% from 2014 to 2020. The capital Copenhagen is a hotspot for ICT workers as well as entrepreneurs developing innovative ICT solutions. Housing over 12,000 IT companies and 100,000 IT employees, Copenhagen has become one of Europe’s largest IT clusters. The IT and Finance sectors make up around 5% of Denmark’s employment with the highest concentration in Copenhagen. The city is home to innovative and progressive initiatives such as GreenTech, FinTech and CleanTech. The city aims to become the first carbon-neutral capital by the year 2025 which led to the formation of the CleanTech industry that is supported by several incentives and funding opportunities, sustaining CleanTeach research and development.

6. Singapore

Singapore has become one of the most attractive prospects for Tech innovation over the years with low tax rates and strong governmental support for investment in technology. Singapore was recently named the second-best country to run a business worldwide by the World Bank. It is also a convenient gateway to the rest of the APAC region including India, China and Japan which is why many European and American businesses are expanding or establishing their bases in the country. Singapore has rapidly gained the reputation of being Asia's financial and tech powerhouse. It has proven to be one of the most wired and technologically advanced countries with a thriving ICT market. The tech-savvy citizens are highly connected and are prodigious consumers of data. The wireless broadband penetration rate for the nation was 173.2% while the mobile penetration reached 148.2% as of December 2020. The city-state procured a whopping $17.2 billion in fixed asset investments in 2020 when most of the economies were on the verge of collapsing during the ongoing COVID-19 pandemic. But the small nation of 6 million people is facing a major shortage of IT talent which makes it a great opportunity for Indian tech workers who are looking for better prospects.

7. New York

The US is another popular hotspot for tech workers around the globe. The exquisite land attracts tons of students, techies, innovators, entrepreneurs, and business leaders from across the world every year. The US is also home to some of the world's top-ranked universities such as Harvard University, Stanford University and Yale University which support unconventional business ideas and start-ups. With plenty of innovative businesses, The Big Apple (New York City) has made remarkable developments in the tech industry fueling subsectors such as AI, data analytics, cybersecurity and education technology. New York houses more than 100 startup incubators and around 9000 start-ups out of which 886 tech innovations secured venture capital funding of about $16.2 billion.

8. London

Recently, The UK has also emerged as one of the popular destinations for IT workers from across the world. According to Tech Nation's UK Tech 2020 review, 2.98 million people were employed in the UK's digital tech economy which demonstrates a proliferation of 11% within two years. The UK tech sector has exemplified its resilience through continued job creation and investment deals despite the economic hardships due to COVID-19 as 10% of all current UK job vacancies are for tech jobs. The growth in skilled tech jobs also glorifies economic acceleration with higher-than-average salaries. Despite the low inflation and difficult economic backdrop, the average tech salary in the UK is ￡53,318 which is 4% more than that in 2019. On contrary, the average UK salary for non-tech jobs stands at ￡36,903. London is not only Europe’s global financial centre, the tech market has rapidly blossomed over the years making the city a central tech hub. The magnificent city consists of more than 125 incubators which provide necessary guidance to all those with new and unconventional business ideas. London is a favourable destination for start-ups because of the easy access to potential investors or consultants, networking opportunities and a great talent pool. A cluster of the major IT establishments including Cisco, Facebook, Google and Intel are present in East London Tech City which is also referred to as ‘Tech City’ or ‘Silicon Roundabout’. London is also home to some prestigious universities that guide young start-ups such as the University of Westminster, Imperial College London, London Metropolitan University and The University of London.

9. Tel Aviv

The government of Israel is keen on supporting local businesses making Israel a tempting destination for start-ups and small businesses. The country yearns for thriving businesses and provides secured loans to businesses in need and encourages institutional investors to enter the market. The government initiated The Ideation (Tnufa) Incentive Program to assist new domestic and international entrepreneurs in developing innovative concepts and provides grants of up to 85% of approved expenses. The Israeli government launched a US$462 million support plan for the small and medium-sized businesses administered by the Israel Innovation Authority as a part of its COVID-19 policy. Nearly US$9.5 billion was raised by Israeli companies and start-ups alone in the year 2020. Tel Aviv has projected itself as one of the fastest-growing tech hubs. Israel’s ‘Startup Nation’ Tel Aviv has the highest number of tech startups per capita across the globe. The high concentration of tech-related industries is locally referred to as ‘Silicon Wadi’, wadi being the colloquial Hebrew word for Valley or dry river bed. Over 100 foreign R&D and innovation centres including Amazon, Barclays, Facebook and Google are present among other innovative start-ups in this Mediterranean coastal city. The AI sector in Tel Aviv accounts for more than 40% of all start-ups in the country, making it a consequential AI hub. Israel is also the first country to offer a Ph. D. program in Cybersecurity. There are now six cybersecurity university research centres in operation in the country.

10. Tokyo

Japan consists of an ingenious tech industry known for its impressive tech infrastructure such as bullet trains. More than half of the global robotic supply originates from Japan making it the world's most active industrial robot manufacturer. It is one of the most favourable destinations for FinTech and other tech startups. To reinforce the startup ecosystem of the country, the Japanese government announced its ‘Beyond Limits, Unlock Our Potential’ strategy which includes entrepreneurship education, improved accelerator programs, and a startup hub in the capital city, Tokyo. The ICT industry in Tokyo holds a top spot at 34.1% in terms of Tokyo's national share by industry and is becoming another hotspot for tech start-ups. Japan’s capital has always been creative and has a long history of tech entrepreneurship with Fujitsu, Hitachi and NTT all being founded there. Tokyo is now home to new avant-garde start-ups like MoneyTree and Yappli and is a legacy set to continue long into the future.

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