Vancouver IT Industry: Data & Insights
The tech sector in Vancouver is actively developing and growing, making the city the second-largest tech hub in Canada. In addition to this, Vancouver is Canada’s top city to invest in attracting talents all around the world.
Today there are more than 300 IT companies in Vancouver and 280+ registered that you can find on Tech Behemoths. These companies are providing jobs for more than 100.000 professionals of different ages and specializations. Out of 100.000 tech and IT professionals, ⅔ or 75.000+ are activating in the Metro Vancouver area.
One of the most significant players in the local IT market - BC Tech Hub, is also located in Vancouver, which gives the city a significant advantage in the region, increasing its development potential significantly.
Another interesting fact is that the tech and IT companies located in Vancouver generate $23B in revenue and $15B in GDP - the numbers have increased dramatically over the past 5 years due to a series of factors, such as international investments, good local policies, high education level of local young professionals but also qualified workers from all around the world working in the city.
According to the latest statistics from Vancouver Economic, the industry growth rate is 6%/year, which at its current size means a lot, compared to other cities in the region. The industry includes and provides services such as AI, SaaS, social media, business intelligence, security and fintech, e-commerce, and web technologies.
On a side note, it is essential to note that huge corporations and international companies which are leading the IT sector globally also have offices opened in Vancouver. Microsoft, Amazon, Apple, Facebook, Cisco, SAP, or Intel are only a few to mention from the entire top list of companies that continue to invest, provide workplaces and create new accelerator programs, startup incubators, and everything in between.
In addition, Vancouver is an attractive place for IT companies and professionals not only due to the above-mentioned reasons but also because it has the fastest-growing tech talent in North America, it is the top 25 city for startups in the world, and it has 2nd lowest operational costs in North America.
Overall, Vancouver is definitely a top destination for companies, but also for those who are seeking IT companies with a good reputation and high performance.