Ranked: The Biggest Companies in the World in 2021
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The Biggest Companies in the World in 2021

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Biggest Companies in the World by Market Cap

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The Biggest Companies in the World

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Since the COVID-19 crash, global equity markets have seen a strong recovery. The 100 biggest companies in the world were worth a record-breaking $31.7 trillion as of March 31 2021, up 48% year-over-year. As a point of comparison, the combined GDP of the U.S. and China was $35.7 trillion in 2020.

In today’s graphic, we use PwC data to show the world’s biggest businesses by market capitalization, as well as the countries and sectors they are from.

The Top 100, Ranked

PwC ranked the largest publicly-traded companies by their market capitalization in U.S. dollars. It’s also worth noting that sector classification is based on the FTSE Russell Industry Classification Benchmark, and a company’s location is based on where its headquarters are located.

Here is the top 100 ranking of the biggest companies in the world, organized from the biggest to the smallest.

RankCompany nameLocationSectorMarket Capitalization
1APPLE INC🇺🇸 United StatesTechnology$2.1T
2SAUDI ARAMCO🇸🇦 Saudi ArabiaEnergy$1.9T
3MICROSOFT CORP🇺🇸 United StatesTechnology$1.8T
4AMAZON.COM INC🇺🇸 United StatesConsumer Discretionary$1.6T
5ALPHABET INC🇺🇸 United StatesTechnology$1.4T
6FACEBOOK INC🇺🇸 United StatesTechnology$839B
7TENCENT🇨🇳 ChinaTechnology$753B
8TESLA INC🇺🇸 United StatesConsumer Discretionary$641B
9ALIBABA GRP🇨🇳 ChinaConsumer Discretionary$615B
10BERKSHIRE HATHAWAY🇺🇸 United StatesFinancials$588B
11TSMC🇹🇼 TaiwanTechnology$534B
12VISA INC🇺🇸 United StatesIndustrials$468B
13JPMORGAN CHASE🇺🇸 United StatesFinancials$465B
14JOHNSON & JOHNSON🇺🇸 United StatesHealth Care$433B
15SAMSUNG ELECTRONICS🇰🇷 South KoreaTechnology$431B
16KWEICHOW MOUTA🇨🇳 ChinaConsumer Staples$385B
17WALMART INC🇺🇸 United StatesConsumer Discretionary$383B
18MASTERCARD INC🇺🇸 United StatesIndustrials$354B
19UNITEDHEALTH GRP🇺🇸 United StatesHealth Care$352B
20LVMH MOET HENNESSY🇫🇷 FranceConsumer Discretionary$337B
21WALT DISNEY CO🇺🇸 United StatesConsumer Discretionary$335B
22BANK OF AMERICA🇺🇸 United StatesFinancials$334B
23PROCTER & GAMBLE🇺🇸 United StatesConsumer Staples$333B
24NVIDIA CORP🇺🇸 United StatesTechnology$331B
25HOME DEPOT INC🇺🇸 United StatesConsumer Discretionary$329B
26NESTLE SA🇨🇭 SwitzerlandConsumer Staples$322B
27IND & COMM BK🇨🇳 ChinaFinancials$290B
28PAYPAL HOLDINGS🇺🇸 United StatesIndustrials$284B
29ROCHE HOLDING🇨🇭 SwitzerlandHealth Care$283B
30INTEL CORP🇺🇸 United StatesTechnology$261B
31ASML HOLDING NV🇳🇱 NetherlandsTechnology$255B
32TOYOTA MOTOR🇯🇵 JapanConsumer Discretionary$254B
33COMCAST CORP🇺🇸 United StatesTelecommunications$248B
34VERIZON COMMUNICATIONS🇺🇸 United StatesTelecommunications$241B
35EXXON MOBIL CORP🇺🇸 United StatesEnergy$236B
36NETFLIX INC🇺🇸 United StatesConsumer Discretionary$231B
37ADOBE INC🇺🇸 United StatesTechnology$228B
38COCA-COLA CO🇺🇸 United StatesConsumer Staples$227B
39MEITUAN🇨🇳 ChinaTechnology$226B
40PING AN🇨🇳 ChinaFinancials$219B
41CISCO SYSTEMS🇺🇸 United StatesTelecommunications$218B
42AT&T INC🇺🇸 United StatesFinancials$216B
43L'OREAL🇫🇷 FranceConsumer Discretionary$215B
44CHINA CONSTRUCTION
BANK
🇨🇳 ChinaFinancials$213B
45ABBOTT LABS🇺🇸 United StatesHealth Care$212B
46NOVARTIS AG🇨🇭 SwitzerlandHealth Care$212B
47NIKE INC🇺🇸 United StatesConsumer Discretionary$209B
48ORACLE CORP🇺🇸 United StatesTechnology$202B
49PFIZER INC🇺🇸 United StatesHealth Care$202B
50CHEVRON CORP🇺🇸 United StatesOil & Gas$202B
51CHINA MERCH🇨🇳 ChinaFinancials$196B
52PEPSICO INC🇺🇸 United StatesConsumer Staples$195B
53SALESFORCE.COM🇺🇸 United StatesTechnology$195B
54MERCK & CO🇺🇸 United StatesHealth Care$195B
55ABBVIE INC🇺🇸 United StatesHealth Care$191B
56BROADCOM INC🇺🇸 United StatesTechnology$189B
57PROSUS NV🇳🇱 NetherlandsTechnology$181B
58RELIANCE INDS🇮🇳 IndiaEnergy$180B
59THERMO FISHER🇺🇸 United StatesHealth Care$180B
60ELI LILLY & CO🇺🇸 United StatesHealth Care$179B
61AGRICULTURAL BANK OF
CHINA
🇨🇳 ChinaFinancials$178B
62SOFTBANK GROUP🇯🇵 JapanTelecommunications$176B
63ACCENTURE PLC🇮🇪 IrelandIndustrials$176B
64TEXAS INSTRUMENT🇺🇸 United StatesTechnology$174B
65MCDONALDS CORP🇺🇸 United StatesConsumer Discretionary$167B
66VOLKSWAGEN AG🇩🇪 GermanyConsumer Discretionary$165B
67BHP GROUP LTD🇦🇺 AustraliaBasic Materials$163B
68WELLS FARGO & CO🇺🇸 United StatesFinancials$162B
69TATA CONSULTANCY🇮🇳 IndiaTechnology$161B
70DANAHER CORP🇺🇸 United StatesHealth Care$160B
71NOVO NORDISK🇩🇰 DenmarkHealth Care$160B
72MEDTRONIC PLC🇮🇪 IrelandHealth Care$159B
73WULIANGYE YIBI🇨🇳 ChinaConsumer Staples$159B
74COSTCO WHOLESALE🇺🇸 United StatesConsumer Discretionary$156B
75T-MOBILE US INC🇺🇸 United StatesTelecommunications$156B
76CITIGROUP INC🇺🇸 United StatesFinancials$152B
77HONEYWELL INTL🇺🇸 United StatesIndustrials$151B
78QUALCOMM INC🇺🇸 United StatesTechnology$151B
79SAP SE🇩🇪 GermanyTechnology$151B
80BOEING CO🇺🇸 United StatesIndustrials$149B
81ROYAL DUTCH SHELL🇳🇱 NetherlandsOil & Gas$148B
82NEXTERA ENERGY🇺🇸 United StatesUtilities$148B
83UNITED PARCEL🇺🇸 United StatesIndustrials$148B
84UNION PAC CORP🇺🇸 United StatesIndustrials$148B
85UNILEVER PLC🇬🇧 United KingdomConsumer Staples$147B
86AIA🇭🇰 Hong Kong SARFinancials$147B
87LINDE PLC🇬🇧 United KingdomBasic Materials$146B
88AMGEN INC🇺🇸 United StatesHealth Care$144B
89BRISTOL-MYER SQB🇺🇸 United StatesHealth Care$141B
90SIEMENS AG🇩🇪 GermanyIndustrials$140B
91BANK OF CHINA🇨🇳 ChinaFinancials$139B
92PHILIP MORRIS INC🇺🇸 United StatesConsumer Staples$138B
93LOWE'S COS INC🇺🇸 United StatesConsumer Discretionary$136B
94CHARTER
COMMUNICATIONS
🇺🇸 United StatesTelecommunications$135B
95CHINA MOBILE🇭🇰 Hong Kong SARTelecommunications$134B
96SONY GROUP CORP🇯🇵 JapanConsumer Discretionary$132B
97ASTRAZENECA PLC🇬🇧 United KingdomHealth Care$131B
98ROYAL BANK OF CANADA🇨🇦 CanadaFinancials$131B
99STARBUCKS CORP🇺🇸 United StatesConsumer Discretionary$129B
100ANHEUSER-BUSCH🇧🇪 BelgiumConsumer Staples$128B

Note: Data as of March 31, 2021.

Within the ranking, there was a wide disparity in value. Apple was worth over $2 trillion, more than 16 times that of Anheuser-Busch (AB InBev), which took the 100th spot at $128 billion.

In total, 59 companies were headquartered in the United States, making up 65% of the top 100’s total market capitalization. China and its regions was the second most common location for company headquarters, with 14 companies on the list.

Risers and Fallers

What are some of the notable changes to the biggest companies in the world compared to last year’s ranking?

Tesla’s market capitalization surged by an eye-watering 565%, temporarily making Elon Musk the richest person in the world. Food delivery platform Meituan and PayPal benefited from growing e-commerce popularity with their market capitalizations growing by 221% and 151% respectively.

Tech companies TSMC and ASML Holdings were also among the top 10 risers, thanks to a shortage of semiconductor chips and growing demand.

On the other end of the scale, Swiss companies Nestlé, Novartis, and Roche Holding were all among the bottom 10 companies by market capitalization growth. China Mobile was the only company to decline with a -12% change. The company was delisted from the New York Stock Exchange as a result of an executive order issued by former president Donald Trump, and recently announced its intention to list on the Shanghai Stock Exchange.

A Sector View

Across the 100 biggest companies in the world, some sectors had higher weightings.

SectorTotal Market Cap in Top 100% of Top 100 Market CapNumber of Companies in Top 100
Technology$10.5T33.0%20
Consumer Discretionary$6.0T18.9%17
Financials$3.4T10.8%14
Health Care$3.3T10.5%16
Energy$2.7T8.5%5
Consumer Staples$2.0T6.4%9
Industrials$2.0T6.4%9
Telecommunications$1.3T4.1%7
Basic Materials$0.3T1.0%2
Utilities$0.1T0.5%1

Technology had the highest market capitalization and was also the most common sector, with Big Tech dominating the top 10. Companies in the consumer discretionary, financials, and health care sectors also had a strong representation in the ranking.

Despite having only five companies on the list, the energy sector amounted to almost 10% of the top 100’s market capitalization, mostly due to Saudi Aramco’s whopping valuation.

An Uncertain Recovery

From near market lows on March 31, 2020, all sectors saw increases in their market capitalization. However, top 100 companies in some sectors outperformed their respective industry index, while others did not.

Sector Performance of Biggest Companies in the World

Basic materials and industrials, both cyclical sectors, were high performers in the top 100 and outperformed their respective industry indexes. Technology companies also outperformed, and accounted for $255 billion or 31% of all shareholder distributions by the top 100, far more than any other sector. Apple alone spent $73 billion on share buybacks and $14 billion in dividends in the 2020 calendar year.

On the other hand, the worst-performing sectors in the top 100 were health care, utilities, and energy. While the index performance for health care and utilities was also relatively poor, the wider energy sector performed fairly well.

It’s perhaps not surprising that all sectors saw positive returns since their low levels in March 2020, buoyed by fiscal stimulus and central bank policies. As countries begin to reopen, will the value of the biggest companies in the world continue to climb?

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Visualized: The World’s Population at 8 Billion

Our population will soon reach a new milestone—8 billion. These visualizations show where all those people are distributed around the world

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Visualized: The World’s Population at 8 Billion

At some point in late 2022, the eight billionth human being will enter the world, ushering in a new milestone for humanity.

In just 48 years, the world population has doubled in size, jumping from four to eight billion. Of course, humans are not equally spread throughout the planet, and countries take all shapes and sizes. The visualizations in this article aim to build context on how the eight billion people are distributed around the world.

For extended coverage of this moment and what it means to the world, you can get access to our full report and webinar by signing up to VC+, our premium newsletter.

Now, here’s a look at each country’s population as of September 2022:

Global RankCountry/RegionPopulation (2022)
1🇨🇳 China1,451,832,064
2🇮🇳 India1,410,982,243
3🇺🇸 United States335,391,957
4🇮🇩 Indonesia280,139,383
5🇵🇰 Pakistan230,918,073
6🇳🇬 Nigeria218,243,241
7🇧🇷 Brazil215,986,577
8🇧🇩 Bangladesh168,436,792
9🇷🇺 Russia146,074,130
10🇲🇽 Mexico132,030,739
11Japan125,619,457
12Ethiopia121,709,461
13Philippines112,939,493
14Egypt106,839,825
15Vietnam98,311,965
16Democratic Republic of Congo96,104,525
17Iran86,465,398
16Turkey86,415,852
19Germany84,385,892
20Thailand70,192,866
21United Kingdom68,691,253
22France65,597,276
23Tanzania63,802,882
24South Africa61,027,608
25Italy60,264,287
26Kenya56,557,929
27Myanmar55,236,333
28Colombia52,123,686
29South Korea51,367,770
30Uganda49,222,889
31Spain46,795,195
32Sudan46,265,964
33Argentina46,141,195
34Algeria45,695,757
35Ukraine43,156,242
36Iraq42,348,230
37Afghanistan40,993,541
38Canada38,495,773
39Morocco37,914,397
40Poland37,754,428
41Saudi Arabia36,069,266
42Angola35,327,540
43Uzbekistan34,589,376
44Peru34,031,086
45Mozambique33,346,961
46Malaysia33,319,730
47Ghana32,594,574
48Yemen31,371,445
49Nepal30,357,476
50Madagascar29,381,411
51Venezuela28,257,503
52Cameroon28,111,718
53Cote d'Ivoire27,925,649
54Niger26,344,186
55Australia26,178,342
56North Korea26,033,387
57Taiwan23,913,311
58Burkina Faso22,270,251
59Mali21,646,251
60Sri Lanka21,615,470
61Malawi20,304,147
62Chile19,489,734
63Zambia19,613,655
64Kazakhstan19,292,183
65Romania18,956,053
66Guatemala18,688,479
67Syria18,506,569
68Ecuador18,262,799
69Senegal17,793,385
70Chad17,553,601
71Cambodia17,252,457
72Netherlands17,219,859
73Somalia16,951,984
74Zimbabwe15,362,663
75Guinea13,981,705
76Rwanda13,712,855
77Benin12,878,142
78Burundi12,740,471
79Tunisia12,101,418
80Bolivia12,039,974
81Haiti11,721,737
82Belgium11,703,272
83South Sudan11,494,756
84Cuba11,311,223
85Dominican Republic11,096,411
86Czechia10,753,478
87Jordan10,434,463
88Azerbaijan10,347,430
89Greece10,310,847
90Honduras10,269,662
91Sweden10,241,804
92United Arab Emirates10,164,747
93Portugal10,130,876
94Hungary9,605,987
95Tajikistan10,042,202
96Belarus9,442,398
97Papua New Guinea9,342,727
98Austria9,122,566
99Israel8,969,013
100Switzerland8,798,256
101Togo8,737,152
102Serbia8,659,648
103Sierra Leone8,357,040
104Hong Kong SAR7,635,279
105Laos7,519,384
106Paraguay7,333,782
107Libya7,086,602
108Bulgaria6,833,885
109Nicaragua6,805,420
110Kyrgyzstan6,774,001
111Lebanon6,758,016
112El Salvador6,560,071
113Turkmenistan6,236,038
114Singapore5,954,898
115Congo5,839,721
116Denmark5,838,070
117Finland5,559,984
118Norway5,517,561
119Slovakia5,465,545
120Oman5,414,812
121Palestine5,381,277
122Liberia5,338,398
123Costa Rica5,200,150
124Ireland5,064,136
125Central African Republic5,025,077
126Mauritania4,940,298
127New Zealand4,911,293
128Panama4,472,108
129Kuwait4,416,533
130Croatia4,049,640
131Moldova4,013,174
132Georgia3,972,171
133Eritrea3,659,593
134Uruguay3,500,798
135Mongolia3,400,693
136Bosnia and Herzegovina3,235,985
137Armenia2,975,648
138Qatar2,994,073
139Jamaica2,990,290
140Albania2,870,809
141Puerto Rico2,704,519
142Namibia2,648,122
143Lithuania2,640,339
144Gambia2,578,866
145Botswana2,462,832
146Gabon2,349,783
147Lesotho2,180,846
148North Macedonia2,083,183
149Slovenia2,079,575
150Guinea-Bissau2,077,878
151Bahrain1,845,321
152Latvia1,840,901
153Equatorial Guinea1,514,454
154Trinidad and Tobago1,409,672
155Timor1,377,091
156Estonia1,328,527
157Mauritius1,276,493
158Cyprus1,227,303
159Eswatini1,187,627
160Djibouti1,021,185
161Comoros913,105
162Fiji911,185
163Réunion909,806
164Guyana795,114
165Bhutan791,064
166Solomon Islands726,764
167Macao SAR669,734
168Luxembourg649,600
169Montenegro628,243
170Western Sahara632,115
171Suriname598,608
172Cape Verde569,810
173Micronesia (Fed. States of)561,300
174Maldives561,291
175Brunei447,038
176Malta444,182
177Belize414,449
178Bahamas401,818
179Guadeloupe400,277
180Martinique374,617
181Iceland346,259
182Vanuatu324,088
183French Guiana317,076
184New Caledonia291,762
185Mayotte288,384
186Barbados288,162
187French Polynesia284,580
188Sao Tome and Principe228,652
189Samoa201,401
190Saint Lucia185,519
191Channel Islands177,517
192Guam172,146
193Curaçao165,604
194Kiribati123,690
195Grenada113,966
196Saint Vincent and the Grenadines111,732
197Tonga108,440
198Aruba107,787
199United States Virgin Islands104,083
200Antigua and Barbuda99,773
201Seychelles99,725
202Isle of Man86,049
203Andorra77,542
204Dominica72,387
205Cayman Islands67,492
206Bermuda61,769
207Marshall Islands60,095
208Northern Mariana Islands58,336
209Greenland56,991
210American Samoa54,920
211Saint Kitts and Nevis54,052
212Faeroe Islands49,281
213Sint Maarten43,991
214Turks and Caicos39,924
215Monaco39,873
216Saint Martin40,198
217Liechtenstein38,374
218San Marino34,091
219Gibraltar33,669
220British Virgin Islands30,687
221Caribbean Netherlands26,779
222Palau18,288
223Cook Islands17,600
224Anguilla15,308
225Tuvalu12,126
226Nauru10,978
227Wallis and Futuna10,818
228Saint Barthelemy9,945
229Saint Helena6,118
230Saint Pierre & Miquelon5,732
231Montserrat4,999
232Falkland Islands3,723
233Niue1,651
234Tokelau1,396
235Holy See806

Below are regional breakdowns of population.

Africa’s Population by Country

As of 2022, Africa’s total population stands at 1.4 billion people. Many of the countries with the fastest growth rates are located in Africa and by 2050, the population of the continent is expected to jump to 2.5 billion.

Data visualization showing a population breakdown of African countries in 2022

Nigeria is Africa’s most populous country and its largest economy. Based on current growth rates, Nigeria’s largest city, Lagos, could even emerge as the world’s top megacity by the end of the century.

Africa has by far the lowest median age of any of the other continents.

Asia’s Population by Country

With 4.7 billion people in 2022, Asia is by far the world’s most populous region.

The continent is dominated by the two massive population centers of China and India. In 2023, a big shift will occur, with India surpassing China to become the world’s most populous country. China has held top spot for centuries, but the mismatch between the two countries’ growth rates made it only a matter of time before this milestone arrived.

Data visualization showing a population breakdown of Asian countries in 2022

Asia is a region of contrast when it comes to population growth. On the one end are countries like Singapore and Japan, which are actually shrinking. On the other, are Middle Eastern nations like Oman and Qatar, which have robust population growth rates of 4-5%.

Vietnam is on the cusp of becoming the 15th country to surpass the 100 million population mark.

Europe’s Population by Country

Europe’s population in 2022 is 750 million people—more than twice the size of the United States.

A century ago, Europe’s population was close to 30% of the world total. Today, that figure stands at less than 10%. This is, in part, due to population growth throughout other regions of the world.

More importantly though, Europe’s population is contracting in a number of places—Eastern Europe in particular. Many of the countries with the slowest growth rates are located in the Balkans and former Soviet Bloc countries.

Data visualization showing a population breakdown of European countries in 2022

Russia remains Europe’s largest country by population. Although the country’s landmass extends all the way across Asia, three-quarters of Russia’s people live on the European side of the country.

Germany is the second largest country in Europe, followed by the UK, France, and Italy.

Ukraine is the seventh largest population center in Europe, but it remains to be seen how the current conflict with Russia impacts the country’s long-term population prospects.

North America’s Population by Country

North America’s population is 602 million people as of 2022.

The continent is dominated by the United States, which makes up more than half of the total population. America’s population is still growing modestly (by global standards), but perhaps more interesting are the internal migration patterns that are occurring. States like Texas and Florida are seeing an influx from other states.

Data visualization showing a population breakdown of North American countries in 2022

Canada has one of the highest population growth rates of major developed economies thanks to international migration.

Mexico is currently the 10th most populous country, but will eventually be bumped from the top 10 list by fast-growing African nations.

South America’s Population by Country

The population of South America in 2022 is 439 million. Brazil makes up nearly half of that total.

Data visualization showing a population breakdown of South American countries in 2022

Sometime this decade, Colombia’s capital, Bogotá, will become the region’s fifth megacity (which is defined as having a population of 10 million or more). São Paulo, Rio de Janeiro, Buenos Aires, and Lima are South America’s current megacities.

Oceania’s Population by Country

The population of the Oceania region is 44 million people—just slightly higher than the population of California.

Australia, New Zealand, and Papua New Guinea make up the lion’s share of the population of this region.

Data visualization showing a population breakdown of Oceania's countries in 2022

Interestingly, many of the smallest countries by population can also be found in this region.

When Will Earth’s Population Hit 9 Billion?

The next global population milestone—nine billion—will likely be hit sometime in the 2030s.

In fact, Earth’s population is expected to continue growing until it hits a peak at some point in the 2080s—possibly over the 10 billion mark.

world at 8 billion report

Where does this data come from?

Source: United Nations, Department of Economic and Social Affairs, Population Division via Worldometer’s live tracker (as of Sept 27, 2022).

Context: The UN has estimated that November 15th, 2022, will be the date that the world population officially hits 8 billion.

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The Biggest Tech Talent Hubs in the U.S. and Canada

6.5 million skilled tech workers currently work in the U.S. and Canada. Here we look at the largest tech hubs across the two countries

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The Biggest Tech Talent Hubs in the U.S. and Canada

The tech workforce just keeps growing. In fact, there are now an estimated 6.5 million tech workers between the U.S. and Canada — 5.5 million of which work in the United States.

This infographic draws from a report by CBRE to determine which tech talent markets in the U.S. and Canada are the largest. The data looks at total workforce in the sector, as well as the change in tech worker population over time in various cities.

The report also classifies which metro areas and regions can rightly be considered tech hubs in the first place, by looking at a variety of factors including cost of living, average educational attainment, and tech employment levels as a share of different industries.

The Top Tech Hubs in the U.S.

Silicon Valley, in California’s Bay Area, remains the most prominent (and expensive) U.S. tech hub, with a talent pool of nearly 380,000 tech workers.

Here’s a look at the top tech talent markets in the country in terms of total worker population:

🇺🇸 MarketTotal Tech Talent% Talent Growth (2016-2021)
SF Bay Area378,87013%
New York Metro344,5203%
Washington D.C. 259,3106%
Los Angeles235,80010%
Seattle189,57032%
Dallas/Ft. Worth187,95015%
Chicago167,5606%
Boston166,4502%
Atlanta145,0807%
Denver117,62023%
Philadelphia115,450 7%
Minneapolis100,9905%
Phoenix99,60018%
Houston98,930-2%
Detroit 93,7705%
Austin 84,68021%
Baltimore79,0008%
San Diego77,780 16%
Raleigh/Durham69,05011%
Portland67,410 28%
South Florida66,660 8%
Charlotte61,95022%
Salt Lake City55,93029%
St. Louis53,9102%
Kansas City52,5000%
Tampa 52,24013%
Columbus50,3904%

America’s large, coastal cities still contain the lion’s share of tech talent, but mid-sized tech hubs like Salt Lake City, Portland, and Denver have put up strong growth numbers in recent years. Seattle, which is home to both Amazon and Microsoft, posted an impressive 32% growth rate over the last five years.

Emerging tech hubs include areas like Raleigh-Durham. The two cities have nearly 70,000 employed tech workers and a strong talent pipeline, seeing a 28% increase in degree completions in fields like Math/Statistics and Computer Engineering year-over-year to 2020. In fact, the entire state of North Carolina is becoming an increasingly attractive business hub.

Houston was the one city on this list that had a negative growth rate, at -2%.

The Top Tech Hubs in Canada

Tech giants like Google, Meta, and Amazon are continuously and aggressively growing their presence in Canada, further solidifying the country’s status as the next big destination for tech talent. Here are the country’s four tech hubs with a total worker population of more than 50,000:

🇨🇦 MarketTotal Tech Talent% Talent Growth (2016-2021)
Toronto289,70044%
Montreal148,90027%
Vancouver115,40063%
Ottawa81,20022%

Toronto saw the most absolute growth tech positions in 2021, adding 88,900 jobs. The tech sector in Canada’s largest city has seen a lot of momentum in recent years, and is now ranked by CBRE as North America’s #3 tech hub, after the SF Bay Area and New York City.

Vancouver’s tech talent population increased the most from its original figure, climbing 63%. Seattle-based companies like Microsoft and Amazon have established sizable offices in the city, adding to the already thriving tech scene. Furthermore, Google is set to build a submarine high-speed fiber optic cable connecting Canada to Asia, with a terminus in Vancouver.

Not to be left behind, Ottawa has also taken giant strides to increase their tech talent and stamp their presence. The country’s capital even has the highest concentration of tech employment in its workforce, thanks in part to the success of Shopify.

Map showing tech employment concentration in the U.S. and Canada

The small, but well-known tech hub of Waterloo also had a very high concentration on tech employment (9.6%). The region has seen its tech workforce grow by 8% over the past five years.

Six out of the top 10 cities by tech workforce concentration are located in Canada.

Evolution of Tech Hubs

The post-COVID era has seen a shifting definition of what a tech hub means. It’s clear that remote work is here to stay, and as workers migrate to chase affordability and comfort, traditional tech hubs are seeing some decline — or at least slower growth — in their population of tech workers.

While it isn’t evident that there is a mass exodus of tech talent from traditional coastal hubs, the rise in high-paying tech jobs in smaller markets across the country could point to a trend and is positive for the industry.

While more workers with great talent, resources, and education continue to opt for cost-friendly places to reside and work remotely, will newer markets like Charlotte, Tennessee, and Calgary see a rise of tech companies, or will large corporations and startups alike continue to opt for the larger cities on the coast?

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