In CBRE’s 2019 Scoring Canadian Tech Talent report that ranks 20 cities on competitive advantages and appeals to tech workers and employers, Vancouver moved up a spot to take the 3rd position. Cities were ranked based on three tech industry indictors in success: talent availability, quality of labour, and cost competitiveness.
There are three highlights that solidified Vancouver’s position as a tech talent leader:
- Talent Availablity
The four largest tech markets in Canada, Toronto, Montreal, Vancouver, and Ottawa, account for 60% of Canada’s tech labour pool. Within the last 5 years, Vancouver’s tech labour pool grew by 42.6%, which is approximately 22,300 new jobs. In comparison to the other 20 cities, Vancouver was ranked #3 for tech labour pool size, #6 for tech employment growth, and #6 for tech concentration.
- Quality of Labour
Vancouver has the 3rd highest volume tech graduates in Canada thanks to two major universities, UBC and SFU. Vancouver ranked #2 for quality of labour, #3 for tech talent-related degrees, and #4 for educational attainment.
- Cost Competitiveness
Vancouver is one best places to operate in North America for cost and quality. Taking a closer look at the wages and rents to run a 500 person company requiring 75,000 SF, operating in Vancouver would cost roughly $38.6M, which is 50% cheaper than San Francisco ($77.4M) and 40% cheaper than Seattle ($66M). Vancouver was ranked #2 for talent quality to cost, #13 for total gross occupancy, and #20 for real estate cost.