Booming German IT Industry Attracting International Talent
Germany Trade & Invest IT industry experts share business opportunities in Germany at this year’s Interop in New York
Berlin/New York - Job seekers from currently struggling European economies are flocking to Germany's IT industry. Nearly 20 percent of German IT companies have seen a rise in applications from these countries in recent months, according to a new survey by BITKOM, the country's IT industry association.
This is a welcome development, as over half of these companies have positions they are struggling to fill, a sign of the current IT boom in Germany. Germany Trade & Invest experts will be on hand at this year's Interop from October 1 - 5 in New York City to share the latest trends in the German IT industry.
"On one hand there is a growing start-up culture here that is embodied by Berlin: young, hip, and innovative. On the other hand, the established German Mittelstand is currently performing very well and able to invest in new technologies, especially cloud computing. These trends are creating chances for international companies to come to Germany," stated Achim Hartig, IT expert and Director of Investor Consulting at Germany Trade & Invest in Berlin.
Germany features the largest IT market in Europe, making up 20 percent of total European market volume. The German IT industry posted annual revenue of approximately EUR 137 billion in 2011, a figure expected to grow in coming years. Cloud computing is one of the most significant growth segments, with revenue expected to nearly quadruple from EUR 3.5 billion to EUR 13 billion per year by 2015.
"The same conditions that helped Germany build a strong class of internationally active small and medium businesses, namely a business-friendly environment and an infrastructure that enables connectivity from anywhere, are now turning the country into a hub for the next generation of businesses," continued Hartig.