Sofia and Bucharest among Top 5 Cities in IT&C Job Gains in Last Decade

Three out of the top 5 European cities in terms of IT&C job gains over the last decade were Eastern European – Budapest, Bucharest, and Sofia, Colliers reported.

While it is impressive to see Eastern European cities go toe to toe in terms of nominal job creation with powerhouses like Paris, Madrid, or Berlin, it is also important to emphasize again that the percentage growth rates are significantly faster in Central and Eastern Europe (CEE), Colliers said in its ExCEEding Borders Office 2023 report.

The CEE economies offer highly (and increasingly) complex products and services as parts of the region are shifting to a different economic development stage.

“For instance, when looking at Harvard’s Atlas of Economic Complexity, we see Czechia ranked 6th in the world, ahead of the UK, the USA and China, with many of the other countries faring quite well, like Slovenia (9th), Hungary (11th), Slovakia (12th) or Romania (19th).

“Even the region’s laggard – Albania, ranked 76th in the world, has been improving in recent years and is at least in the middle of the pack. While the region is quite heterogenous and some countries are ahead of others, the pattern seems to hold,“ the report said.

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