London's tech cluster has been ranked the largest in Europe, according to research today which suggests there has been a surge of millennial talent coming into the UK.
The capital saw off the likes of Paris, Madrid and Rome to finish top of an index which ranked Europe’s largest technology clusters based on the size, concentration and growth of tech sector employment.
Real estate advisor CBRE, which conducted the study into the whereabouts of more than 70,000 tech employees, said the successful rise of London’s hubs is partially down to the city’s ability to attract young millennials to the area.
“It is no surprise that London has topped the tech ranking. London’s tech credentials enable it to out-shine its peers, with both large and small tech occupiers expanding and looking to secure space in the City,” according to Kevin McCauley, head of London research at CBRE.
London’s employment rate in the Information and Communications Technology (ICT) sector has grown by 20 per cent since 2008, with its proportion of ICT employment at almost two and a half times the EU average.