Thousands of new jobs
In a new statement, the City of Amsterdam has reported that the economy in the local metropolitan area is expected to grow by 2.8% in 2019 and an additional 2.3% in 2020. This could result in the creation of approximately 57,000 new jobs during that time, and unemployment is expected to drop from 4% of the labour force to 3.8% next year. In 2018, economic growth reached 3.4% and as a result, 52,000 more people are working in the city region than in 2017.
One of Europe’s fastest growing regions
The economic growth experienced by Amsterdam in 2019 is 1.3% higher than that seen in the rest of the Netherlands. Currently, the Amsterdam Metropolitan Area is one of Europe’s three fastest growing regions, along with Prague and Warsaw, and it has grown every year since 2013.
However, economic growth has fallen slightly due to the weak international economy and a growing labour market shortage concentrated in the IT, healthcare, tourism, business services and hospitality industries. The City of Amsterdam has launched training programmes to teach people the in-demand skills needed to succeed in these fields.
Strong and stable
The Amsterdam Metropolitan Area has also remained stable when compared to the Netherlands and Europe as a whole. Though employment opportunities and economic growth are concentrated in Amsterdam and Amstelland-Meerlanden (which comprises Aalsmeer, Amstelveen, Diemen, Haarlemmermeer, Ouder-Amstel and Uithoorn), growth is increasingly spreading across the region.
Multiple factors have contributed to Amsterdam’s economic performance, including investments in tech, construction and other commercial services. The city’s strong tourism industry and international competitiveness also play a role and foreign companies are responsible for 20% of local employment.
Read more business news from around Amsterdam.