Publications

- June 1, 2024: Vol. 16, Number 6

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Powerhouse and established markets in Asia Pacific

by Jennifer Molloy

Although 2023 was challenging for the tech sector amid ongoing layoffs, tight access to capital and a focus on cost savings rather than growth, Asia Pacific has been a bright spot for the tech sector given its vibrant landscape and diversity; wage differential; and strong growth of generative artificial intelligence talent, according to CBRE’s Global Tech Talent Guidebook 2024.

The guidebook identifies 75 global markets as “powerhouse”, “established” or “emerging”. Powerhouse markets are major urban centres with large tech talent pools, mature tech ecosystems, stable regulatory environments, access to capital, and the ability to attract tech entrepreneurs and talent from across the world. Established markets have similar characteristics but on a smaller scale, wielding more regional than global strength. Emerging markets are rapidly developing tech ecosystems that have some but not all of the key ingredients to become more established, including workfor

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