Why London continues to rank among the best up-and-coming tech markets in North America

London's tech industry continues to boom, and that's reflected in this year's CBRE Scoring Tech Talent report which ranked London fourth on its list of North America's next 25 markets.

The ranking is based on a number of factors like total employment, employment growth, wages and education. London climbed the ranks steadily over the years. In 2021, it debuted on CBRE's list of top emerging markets at number ten, eventually making it to fourth place last year.

Now, holding fourth place on the list shows London is doubling down and moving forward in tech, according to Christina Fox, the CEO of TechAlliance, which promotes and supports tech companies across the region.

"We don't think it's by accident," Fox said. "Because we see the talent attraction, we see the increase in average salary, and the strength of novel innovation that comes into this market and continues to grow."

London is one of three Canadian cities on the list, with Halifax scoring second place and Winnipeg coming in ninth. London's tech sector showed the highest sector growth at 54.5 per cent in the last three years — more than 10 per cent above any of the others.

Techstars, a massive global startup accelerator, will be even be hosting one of its Startup Weekends in London for the first time in late September — a milestone that shows the strides London is making globally, Fox said.

One reason for London's growth is that tech innovation here comes in so many different forms, Fox explained.

London is well-known for fields like medical technology, with its large network of hospitals, as well as game development, home to studios like Digital Extremes, creator of the popular online game Warframe. But it's also a hub for other fields, like agricultural technology, food innovation, artificial intelligence and more.

"We have a lot of technology sub sectors in our region such that it's hard to say that we are the specialist for any one particular technology," she said. "I think that's part of the reason why London continues to land on these lists."

London-based Info-Tech was founded in 1997 and has since grown to become a leading global research and advisory firm, supporting thousands of IT, HR and marketing professionals worldwide. It employs about 1,500 people across six countries, recently expanding to New Zealand and Singapore. The company announced its plans to hire an additional 450 employees, including 150 to work in London, where more than 20 per cent of its workforce is based.

"We really view London as a launch pad, not a boundary for our company," Shawn Gibson, the company's Chief Human Resources Officer, said. "So this still remains our global headquarters, even though we are hiring employees and servicing large billion-dollar organizations all around the globe."

Seeing the city ranking high as an up-and-coming market is a big source of pride for Info-Tech, Gibson said, adding that pushing London even closer to the top of the list will mean continuing to strengthen relationships between companies and pushing even harder to attract talent to the city.

"Whether it's looking to Fanshawe or Western as feeder organizations, or looking for great talent to join us here in London, I think the talent factor is a big key part of that."

Digital Extremes (DE), a game developer, has been operating in London for 30 years. Its biggest game, Warframe, has been out for 13 years and attracts thousands of fans to London for its conventions.

Its main offices are based in Citi Plaza, and the company recently renewed its lease for an additional 10 years, signalling that it has no plans to leave London any time soon.

Both the city and the broader region have a lot to offer companies and talent, according to Sheldon Carter, DE's president, especially for anyone looking to get out of the bigger cities.

"It's this combination of the stability and the beauty of London when it's at its best," he explained. "The tech startups and the environment that happens when you've got all these like-minded people who are starting companies, innovating … it becomes a really attractive place."

London's high ranking by CBRE is a big accomplishment already, but there is always room for improvement in any market, he admitted, adding that more tech incubation would be great to see, as well general improvements to the city itself.

"Like I said: London, at its best, is amazing," he said. "I think we can always look to see how the city could be better so that when we're recruiting the best people, they want to be here."