Vancouver is the second-fastest growing tech market in Canada, according to new report from CBRE.
Tech employment in the Metro Vancouver region grew by nearly 48% from 2014 to 2019, outpacing employment growth in Toronto over the same period (36.5%). The region's performance over the last half-decade was second in Canada only to the region of Waterloo (51.4%).
The findings are documented in a new report from CBRE, which ranks Canadian cities and regions based on the availability, growth, cost and quality of local tech talent. According to the firm, “extremely strong tech-job growth” contributed to Vancouver maintaining its spot as the No. 3 tech centre in the country, behind Toronto and Ottawa.
Of the eight categories examined by CBRE, Vancouver scored highest for quality of labour, second again only to Waterloo. It ranked last among the 20 locations included in the ranking for the cost of real estate.
Victoria was the only other B.C. tech hub included in the report. It ranked seventh overall and came in seventh for both tech talent concentration and talent quality relative to cost – the city’s highest marks.
According to the report, tech talent in Victoria increased by just over 14% from 2014 to 2019.