The development of artificial intelligence remains the main driver of funding in the technology sector, despite the general slowdown in the market, reveals the CBRE Global Tech Talent report.
"While the US dominates in terms of AI talent concentration, followed by India and the UK, Central and Eastern Europe - including Romania - is attracting increasing attention due to its competitive workforce and favorable business environment. The report notes an accelerated growth in demand for tech talent in Poland and Germany, while emerging markets such as Belgrade, Katowice, Leipzig and Lille are gaining ground. Romania, through its development centers in Bucharest, Cluj-Napoca, Ia?i and Timi?oara, is becoming increasingly relevant in this equation, benefiting from a STEM-educated population, low operational costs and an attractive quality of life for digital professionals. Although the report indicates that salaries for software engineers remain the lowest in Europe in Budapest and Bucharest, this aspect contributes to Romania's attractiveness to investors seeking cost efficiency without compromising the quality of the resource human resources," says Mike Gedye, Head of Tech, Media & Telecoms for Europe, at CBRE.
He argues that the pandemic has accelerated digital transformation, and after a period of restructuring, 2024 marked a rebound in tech employment, driven by innovation in AI. Most major companies in the field have now surpassed pre-pandemic employment levels.
"Global mobility and hybrid working have broadened access to tech talent, giving cities in Central and Eastern Europe, such as those in Romania, the opportunity to become competitive technology hubs. Investments in deep tech innovation will reinforce this trend," says Mike Gedye.
CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Dallas, is the world's largest commercial real estate services and investment firm (based on 2022 revenues). The company has more than 115,000 employees serving clients in more than 100 countries.
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