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Industry News: Three European Locations
Attracting Global Talent in 2018

By September 24, 2018July 29th, 2020No Comments
Industry News: Three European Locations Attracting Global Talent in 2018

The way people work is changing. The internet’s ubiquity has allowed workers in a variety of fields to complete their tasks from anywhere that offers a reliable Wi-Fi connection. This has led to the rise of the digital nomad, or those who have the freedom and means to travel when- and wherever they please while completing their work through telecommunication. For those who are still bound to a single location, they are finding that there are job opportunities across the globe—many of which can be found in Europe.

Estonia’s Digital Visa Welcomes Global Talent

Estonia gave the world Skype, the video chat and voice call app that changed the way people telecommunicate. Skype helped Estonia establish its reputation as a tech-centric country, but it is far from the only tech startup to come out of the Eastern European country; the nation of 1.3 million has six times the number of startups per capita than the European average, totaling 31 startups per 100,000. And Estonia is further solidifying its reputation as a leader in location-independent and innovative tech: it is now offering the world’s first e-residency.

The digital residency allows businesses and individuals alike to register as an EU-based company online, and still allows them to operate from anywhere in the world. Each registered company will have access to Estonian banking, payment processing, and taxation. The e-residency also gives digital nomads the freedom to reside in Estonia for up to a year if they wish, with full access to citizen services (99% of which are online), as well as 90-day work and travel access to the Schengen Area. Only four years old, the e-residency has already proven popular among global talent, attracting more applicants than the total number of Estonian births in 2017.

Copenhagen Earns Top Spot on Global Talent Competitiveness Index

Denmark’s capital topped the 2017 Global Cities Talent Competitiveness Index, beating out innovation hubs San Francisco and Gothenburg. A number of factors contributes to Copenhagen’s top spot; its 12,000 researchers, dozen-plus science parks and universities, and largest public and private sector researcher pool help define its leading edge. Cumulatively, the nation of 5.7 million boasts the largest recruitment base of highly-skilled workers of any Scandinavian country. The Word Bank named Copenhagen the ‘easiest place to do business in Europe’ from 2012-2017, and it earned the number 7 spot on Forbes’ 2017 Best Countries for Business List. This is no doubt in part due Copenhagen’s 22% tax rate, and roughly 20% cheaper cost of doing business than in other Scandinavian and many European capitals.

Germany Rises as Global Talent Destination

While some of the world’s leading economies are becoming more restrictive when it comes to immigration, Germany has embraced global movement to contribute to its steady economy. In 2017, its economic growth reached a six-year high, with its public finances reporting a record surplus. Prior to Brexit, the UK was the number-two destination for individuals looking to work abroad. Now, however, Germany has claimed that distinction. It attracts not only European and EU workers, but talent from all over the world. These workers are filling roles in many different sectors, including tech, automotive manufacturing, chemicals, and engineering. Germany has succeeded in attracting skilled workers under the age of 30, those who hold master’s and doctoral degrees, and those in various digital disciplines, including computer engineering and IT.

Go Global with an Experienced Partner

As the world becomes increasingly connected, both employers and workers are finding that global movement can offer benefits unavailable otherwise. For employers in Europe who are looking to fill critical roles, looking abroad may prove the most rewarding method of sourcing qualified talent. If you’re looking beyond your borders for the brightest global talent, reach out to Velocity Global today to learn how our full suite of global expansion services can help you find the right talent for your organization and meet you global growth objectives.