Vancouver, Victoria among top 10 tech markets in Canada

Tech education and industry continue to boom in B.C.

Vancouver and Victoria remain in the top seven tech markets, according to a recent study from the CBRE Group. (CBRE Group)

B.C. continues to be fertile ground for growing tech industries.

While the service, entertainment and retail industries struggle to recover from COVID-19, the tech industry booms, adding more than 165,000 jobs to the economy nationwide. Vancouver and Victoria are both in the top 10 major markets for the tech industry, based on a scoring system from CBRE Group.

The CBRE’s market ranking system is based on 13 metrics, including talent availability and operating costs, to gauge suitability to tech employers and prospective employees. While some tech markets shifted positions within the top 20 from 2019 to 2020, the top seven remained unchanged.

Vancouver is ranked third only below Toronto and Ottawa. The size and recent growth of the tech labour pool, in addition to a rising number of tech-related degrees, puts Vancouver in a promising position. The city ranks third in tech degree completions and tech labour pool size, and it’s the second-fastest growing tech market with 27,500 jobs added between 2014 and 2019 – an increase of nearly 48 per cent.

RELATED: Booming tech sector in Greater Victoria could be threatened by lack of physical space, executive talent

Although cost of living and real estate in Metro Vancouver is among the highest in the province, the market is ranked number 10 in terms of tech firm operating costs.

The pandemic called into question the need of physical office space as many Canadians switched to remote work. A tech education leader, Lighthouse Labs CEO Jeremy Shaki said as office spaces evolve, so too will their place in society. The importance of a central office would potentially come more as a social location than a traditional workplace, he added.

“I do believe the culture that emanates from a central office point is really helpful. While people don’t need community from their company, they need community from their locale, and they need people to connect with.”

Victoria comes in at the seventh spot above Halifax, Quebec City and Hamilton. Tech industry concentration is among Victoria’s strongest points, a market which Shaki described as “unreasonably large.” Its primary industries are software and app development, advanced manufacturing and ocean science, whereas Vancouver’s predominant tech sectors are software development, digital media and gaming.

RELATED: University of the Fraser Valley gets $100k for tech programs

In terms of job trends, Shaki expects in-demand skills to remain consistent with web development and cybersecurity being the most desirable. However, these skills are being integrated into jobs in multiple positions, resulting in upskills rather than reskills.

“What I actually see happening is a lot more hybrid skills as opposed to full-out reskills,” Shaki said. “Everyone from HR to accountants to administrators is expected to know a lot more about data and technology.”

According to the CBRE report, the tech industry outpaces multiple work sectors, growing three times faster than the national average due to a trend of reskilling.

To keep Canadian tech education thriving during the pandemic, Lighthouse Labs released $1 million in scholarship funding last year for upskilling and reskilling to help workers adapt as workplace tech changes.


 

@ashwadhwani
adam.louis@bpdigital.ca

Like us on Facebook and follow us on Twitter.

BusinessCoronavirusJobs and Careers

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Police tape is shown in Toronto Tuesday, May 2, 2017. (Graeme Roy/The Canadian Press)
CRIME STOPPERS: ‘Most wanted’ for the week of Jan. 24

Crime Stoppers’ weekly list based on information provided by police investigators

A health-care worker prepares a dose of the Pfizer-BioNTech COVID-19 vaccine at a UHN COVID-19 vaccine clinic January 7, 2021. THE CANADIAN PRESS/Nathan Denette
Employers might be able to require COVID-19 vaccination from employees: B.C. lawyer

‘An employer must make the case’ using expert science, explains lawyer David Mardiros

Prep teacher Ola Cholewa shows local environmentalist Jack Emberly posters that students from the Fish Ladder Awareness Team made to promote a fish ladder along the Alouette River. (Colleen Flanagan/The News)
New club in fight for fish ladder in Maple Ridge

The Environmental School club creating awareness about the need for a fish ladder on the Alouette

Keith Kartzewski captured a fogbow, when fog refracts light in the shape of a rainbow but without the bright colours. This was taken in Pitt Meadows Feb. 19, 2021. (Special to The News)
SHARE: Fogbow photographed in Pitt Meadows

Send us your photo showing how you view Maple Ridge or Pitt Meadows, and it could be featured soon

The Pitt Meadows Art Gallery will be running a photography exhibition through February and March.
Pitt Meadows Art Gallery featuring photography

Pros and amateurs submitted their images on a variety of themes

Terrance Josephson of the Princeton Posse, at left, and Tyson Conroy of the Summerland Steam clash during a Junior B hockey game at the Summerland Arena in the early spring of 2020. (John Arendt - Summerland Review)
QUIZ: How much do you know about hockey?

Test your knowledge of Canada’s national winter sport

Jennifer Cochrane, a Public Health Nurse with Prairie Mountain Health in Virden, administers the COVID-19 vaccine to Robert Farquhar with Westman Regional Laboratory, during the first day of immunizations at the Brandon COVID-19 vaccination supersite in Brandon, Man., on Monday, January 18, 2021. THE CANADIAN PRESS/Tim Smith - POOL
Top doctor urges Canadians to keep up with COVID measures, even as vaccines roll out

More than 776,606 vaccines have been administered so far

From the left: Midway RCMP Csts. Jonathan Stermscheg and Chris Hansen, Public Servant Leanne Mclaren and Cpl. Phil Peters. Pictured in the front are Mclaren’s dog, Lincoln and Peters’ dog, Angel. Photo courtesy of BC RCMP
B.C. Mounties commended for bringing firewood to elderly woman

Cpl. Phil Peters said he and detachment members acted after the woman’s husband went to hospital

Dr. Jerome Leis and Dr. Lynfa Stroud are pictured at Sunnybrook Hospital in Toronto on Thursday, January 21, 2021.THE CANADIAN PRESS/Frank Gunn
‘It wasn’t called COVID at the time:’ One year since Canada’s first COVID-19 case

The 56-year-old man was admitted to Toronto’s Sunnybrook Health Sciences Centre

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

An Uber driver’s vehicle is seen after the company launched service, in Vancouver, Friday, Jan. 24, 2020. Several taxi companies have lost a court bid to run Uber and Lyft off the road in British Columbia. THE CANADIAN PRESS/Darryl Dyck
Taxi companies lose court bid to quash Uber, Lyft approvals in British Columbia

Uber said in a statement that the ruling of the justice is clear and speaks for itself

sd
VIDEO: Mission drag racer scores 1st career win, sets world record, makes history in 2020

Justin Bond, founder and owner of JBS Equipment Mission, has break-out year

A 75-year-old aircraft has been languishing in a parking lot on the campus of the University of the Fraser Valley, but will soon be moved to the B.C. Aviation Museum. (Paul Henderson/ Chilliwack Progress)
Vintage military aircraft moving from Chilliwack to new home at B.C. Aviation Museum

The challenging move to Vancouver Island will be documented by Discovery Channel film crews

Giants defenceman Bowen Byram has recorded his first NHL career point (Rob Wilton/special to Langley Advance Times)
VIDEO: Vancouver Giants Bowen Byram records first NHL career point with Colorado Avalanche

Player with Langley-based WHL franchise assisted on goal against the Ducks

Most Read