Toronto is emerging as a hot destination for techies looking for high paying tech jobs. This Canadian city has created more tech jobs than Silicon Valley, Seattle, and Washington DC combined. The global tech talent has more career opportunities in Canada than the US.
According to a report based on CBRE Group’s annual survey, Toronto created 28,900 tech jobs last year. The growth in terms of job creation compared to the last year is 14%. Canada’s biggest city now employs 2.41 lakh workers, recording 52% growth over the last five years. The new job creation is not only in the tech industry but also in other areas such as real estate, manufacturing, and export.
In the ranking of 50 markets across North America, Toronto was placed 4th in terms of tech talent. Canada’s tech industry is growing at a fast pace but that doesn’t mean Canada already has the largest pool of tech workers. CBRE’s study counts 5 million tech workers in the US and more than 830,000 in Canada.
The major factors behind the fast-paced growth of Canada’s tech market are the high-quality and highly skilled tech talent, cost-efficiencies and welcoming immigration policies. The city continues to outpace other North American markets. The tech market in this country is booming at a fast pace as compared to any other city in the US.
The growth of the tech industry has accelerated demand for infrastructure services, office spaces in downtown Toronto. Even the US-based tech firms are looking to house their operations in Toronto. The less expensive access to labor, real -estate and high educational levels are helping Canada in creating a happening tech ecosystem.
Canadian city, Ottawa beats other North American cities in terms of availability of tech talent. The city has the highest concentration of tech talent. The town is a home to over 1,700 tech companies that employ over 70,000 tech workers. In just five years, urban tech has grown to be the second largest user group in Ottawa, bigger than accounting and legal sectors put together.
The strict scrutiny for the US work visa has forced the Indian IT talent to consider Canada. With Indian IT majors setting up their operations in Canada, many IT professionals prefer applying for available positions in Canada over the US.