Throughout the pandemic, we’ve seen people leaving major cities for more space at a lower cost, among other factors. The new workforce paradigm is enabled by a solid digital infrastructure, but there’s still a need for physical workspace that enables collaboration and innovation – yet maybe in different locations than before.
According to more than 800 global technology company leaders surveyed in our annual Technology Innovation Hubs report:
As we look to the future, one thing that’s clear is questions remain about the long-term composition of the workforce. Will employees stay remote? What does a hybrid model look like? Where will talent come together and innovate in the future? With only 32% thinking it’s not likely the innovation center of the world will move from Silicon Valley, there is 68% who feel it is likely (or neutral) that it will move. These leaders provided some clues on where:
At a country level, 27% of respondents suggested that the United States shows the most promise for driving innovation and developing disruptive technologies.
As the world re-opens following the pandemic, we’re starting to see a change in the mix of flexible work arrangements emerge – including hybrid and remote options – but one thing is certain: technology leaders are following the talent and will consider investing in the cities that attract them.
We’ll be watching to see how this plays out, but the pandemic is creating a potential re-shaping of technology hubs worldwide.