Toronto has been ranked as the fourth top city in North America for tech talent, according to a recent report by CBRE. The city’s rise in the rankings is largely driven by the high demand for artificial intelligence (AI) skills in the tech industry.
The report, titled “Scoring Tech Talent in North America 2021,” analyzed the top 50 tech talent markets in the region based on various factors such as talent supply, concentration, and cost. Toronto’s fourth-place ranking is a significant jump from its previous position at number six in 2020.
According to CBRE, Toronto’s tech talent pool has grown by 53.5% over the past five years, with a total of 250,000 tech workers in the city. This growth is largely attributed to the increasing demand for AI skills, which has seen a 31.6% increase in the past five years.
The report also highlighted Toronto’s strong tech industry, with the city being home to major tech companies such as Shopify, Microsoft, and Google. These companies, along with the city’s thriving startup scene, have contributed to Toronto’s rise as a top tech talent market.
In addition to AI skills, Toronto’s tech talent pool also boasts a diverse range of skills, including software development, data analytics, and cybersecurity. This diverse talent pool has made Toronto an attractive location for tech companies looking to expand their operations.
CBRE’s report also noted that Toronto’s tech talent market is highly competitive, with an average tech salary of $100,000 USD. However, the city’s relatively lower cost of living compared to other top tech markets, such as San Francisco and New York, makes it an appealing option for both employers and employees.
Overall, Toronto’s rise in the tech talent rankings is a testament to the city’s growing reputation as a hub for innovation and technology. With its diverse talent pool and strong tech industry, Toronto is well-positioned to continue its growth as a top tech talent market in North America.
