One third and growing
The technology sector in Amsterdam now accounts for one third of the growth in the office market, according to a new report. The report, called “Understanding European Technology Clusters”, was published by the consultancy firm CBRE. It found that the tech sector is one of the fastest-growing sectors in the Dutch economy, and Amsterdam is the principal focus for much of this activity. This was due to factors such as accessibility, amenities, and a large pool of highly-educated workers. In 2014, technology companies only accounted for a quarter of the total volume, but that figure has since grown to more than one third.
Activity was dominated by companies active in the field of e-commerce, which were responsible for more than half of the total take-up in the technology and media sector, versus only 12% in 2010. Booking.com was responsible for the largest lease of 2015, acquiring 13,500 square metres in the Piet Hein Buildings along the IJ river.
The report predicted that IT services and e-commerce companies will continue to be the dominant drivers of demand for office space in and around Amsterdam, with software and technology hardware also becoming increasingly important sub-sectors.
Attractive city for tech companies
The report found that Amsterdam scored above average on indicators related to innovation, such as having a favourable business climate for startups, and being attractive to students. "The technology sector is becoming increasingly important for the Amsterdam office market,” said (Dutch link) Rudolf de Boer, managing director of CBRE. The city’s attractiveness is also strengthened by the fact that it was recently voted European Capital of Innovation by the European Commission.
In 2015, a record number of 140 new international companies set up offices in the Amsterdam Metropolitan Area. The region’s favourable location and excellent physical and digital accessibility also make it an attractive place for European headquarters: in 2015, the region attracted 42 new international headquarters.