Recent statistics show that the global tech industry is worth an astonishing $5.2 trillion. Expected to have a growth rate (CAGR) of 5% through 2024, it’s no wonder that the number of jobs in the sector is also growing. For example, the number of ICT specialists in the EU alone rose by 50.5 % from 2012 to 2021, almost eight times as high as the increase (6.3 %) for total employment.
As such, working in tech can be a fantastic career move with a huge number of opportunities worldwide, not to mention the rising salaries. But which countries, in particular, are best when it comes to working in tech? Allow us to run down the top three.
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With the German tech industry generating annual sales revenues of over €230 billion and providing one million jobs (that account for nearly 7% of the country’s economic output), Germany is the first nation on our list.
The country is home to a whole host of heavyweight and burgeoning tech companies, with big hitters including the likes of SAP, Siemens, and Soundcloud. As recruitment specialist Eursap notes about SAP specifically: “There are plenty of opportunities to land an English-speaking SAP job in Germany. Berlin, Munich, Frankfurt am Main and Stuttgart are particularly fertile grounds for such specialists, with a heavy concentration of English-speaking companies located in these cities.”
Meanwhile, tech startups are thriving in Germany too, with 3,348 new startups founded in 2021 alone, a rise of 11% from the previous year.
2. The US
Home to more than 585,000 tech companies, including the likes of Apple, Alphabet (Google), and Microsoft, the US has arguably the world’s largest tech sector. This in turn makes it a great place to find tech jobs.
Synonymous with the US tech industry in Silicon Valley, the region in Northern California has been described as “a global center of technological innovation.” There are over 30 Fortune 500 companies located in Silicon Valley, as well as thousands of startups. Salaries are high there too — for instance, the most recent statistics show that the average wage for a software engineer in the San Francisco Bay Area was around $140,000, compared to a national average of $104,000.
That’s not to say that there aren’t other thriving tech hubs in the US though, as the likes of New York, Washington, and Los Angeles also boast huge tech talent pools.
Rounding off our list is Singapore. The Southeast Asian city-state has long been known as the world’s financial capital, but in recent years has been dubbed “Asia’s Silicon Valley” thanks to the huge growth of its tech industry.
Not only do companies including Google, Facebook, Amazon, Stripe, Salesforce and Grab have headquarters or significant operations there, but Singapore is also home to over 4,000 tech startups, despite its small size.
Perhaps most strikingly, the most recent statistics showed that Singapore accounts for three-quarters of the VC and private equity funds raised in South East Asia, showing just how much of an entrepreneurial powerhouse it is.
It’s no surprise that the demand for tech workers is extremely high, with an estimated 1.2 million more required by 2025 to help Singapore meet the demands of this rapidly growing industry. This is great news for those looking to move abroad, especially considering the country’s willingness to welcome foreigners — a third of its population are expats.