Chapter 2

Labor Supply

Global Tech Talent Guidebook 2024

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Powerhouse and established markets have many similar characteristics and often compete with one another for tech talent and investment. The top tech markets have large and often diverse tech company clusters, along with higher concentrations of tech talent.

These clusters typically form around preeminent universities that invest in technology innovation programs, provide a regular flow of new talent and often have formal linkages between academic discovery and commercial product development. These clusters accelerate the innovation process among tech companies.

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Education is a forward-looking metric and a key component of a market’s tech talent outlook. It is best analyzed through the number of degrees issued by higher educational institutions and the caliber of those institutions. Countries with the highest educational attainment rates, defined as residents aged 25+ with a bachelor’s degree or higher, were Ireland, Singapore, the Netherlands and the U.K., each with a rate of more than 40%.

Figure 10: Educational Attainment by Country

Note: population age 25-64 with a Bachelor's degree or higher.
Source: OECD, Statistics Canada, U.S. Census Bureau, Sitewise, CBRE Research, October 2023.

The U.S. and China are leaders in university quality by country, with 199 and 106 universities ranked among the top 1,000 globally, respectively, according to U.S. News & World Report.

Figure 11: Top 1,000 Universities by Country

Source: U.S. News & World Report, November 2023.

Six markets had more than 500,000 tech talent workers in 2022, all of which were in the Asia-Pacific region. Three markets had more than 1 million tech talent workers: Beijing, Bengaluru and Shanghai. The largest markets outside of India and China all had between 300,000 and 500,000 tech talent workers and included London, New York, Paris, the San Francisco Bay Area and Tokyo. Mexico City and Sao Paulo were the only Latin American market with more than 200,000 tech talent workers.

Figure 12: Tech Talent Workforce by Market (2022)

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Source: CBRE Consulting, September 2023.

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Chapter 3 Costs
Chapter 1 Employment Environment