Over the years, ICT job and talent specialists have emerged as highly sought-after professionals, with a robust ICT profile being particularly esteemed. This trend is expected to persist in the medium and long term, becoming a pivotal factor for companies and investors in shaping strategic objectives, especially when expanding operations beyond their home borders or venturing into new markets.
According to Eurostat data, in 2021 approximately 60 to 70% of companies that were recruiting or trying to recruit ICT specialists faced difficulties in filling those vacancies. The European Union saw over 9 million people employed in the sector in 2022, with Germany hosting one-fifth of them (2.1 million) and Spain ranking third with 0.9 million professionals.
Delving into the data, the numbers add up for Spain. The third European country with the most employed ICT professionals with fewer than 33% of companies experiencing difficulties in securing qualified ICT personnel. This contrasts with other EU nations, such as Slovenia, leading with a 78% difficulty rate, followed by Luxembourg with almost 71%, and the Netherlands with just over 70%.
Some of the challenges encountered by companies when searching for ICT specialists, are lack of relevant qualifications and experience and high salary expectations. Difficulties that are largely addressed and solved in Valencia. Spain, and particularly Valencia, has proactively implemented measures to address the surging demand for technological talent, making easily accessible and affordable highly qualify professionals—two fundamental aspects for innovation companies and start-ups as we have mentioned before.
Education plays a crucial role in these measures. The Polytechnic University of Valencia claims to be the best polytechnic university in Spain, leading the production of tech talent. The University of Valencia ranking among the top 3-7 best universities in Spain and the top 400 globally (2023 Shanghai Ranking about worldwide universities). Valencia itself stands out as a premier Erasmus destination for various reasons and more than 3,500 engineers and data scientists graduate annually in the Valencian Community.
The city’s attractiveness to international job and talent is evident in the enrolment of over 15,000 foreign students in Valencian universities. Many of these students, drawn by the city’s favourable conditions in terms of employability and quality of life, end up contributing to the pool of specialized talent sought after by companies.
And if all this information wasn’t enough for you to consider your company landing in the city, there is more. A high turnover becomes a multidimensional problem for companies, right? Well, according to a recent study on labor turnover in Spain elaborated by Randstand Research (2022), the average annual turnover of Spanish companies was at 17.0% in 2022. In this study the Valencian Community stands out for having the second lowest turnover rate in Spain, at 11,7%. The autonomous communities with the highest level of turnover are Andalusia (23,7%) and Navarre (23,2). Madrid’s turnover rate is set at 15,6% and Cataluña’s at 16,0%.
As you can see, there are many reasons to consider landing a business in Valencia. Shall we talk about it?