Why IT leaders can learn from Lithuania’s technology hub
October 18, 2018
With the current shortages of IT professionals in the EU, a growing number of Partners are investigating in expanding capacity abroad. There’s one tech hub in Europe that’s quietly been establishing itself as an attractive base for some of the world’s most well-known tech businesses.
31,500 Lithuanians are employed in the Lithuania IT sector, a pool that expands yearly with 1,300 freshly graduated IT professionals. It’s one of the fastest growing IT hubs in the world. It’s why innovative companies like Google and AIG Insurance have already found their way into this burgeoning tech hub, as well as members of the Microsoft Partner Network.
What makes Lithuania’s Technology sector so attractive?
An abundance of high quality IT professionals
Well over 30,000 Lithuanians are employed in the IT sector, a pool that expands yearly with 1,300 freshly graduated IT professionals. The Lithuanian government has rightly understood that IT education is what will power the economies of the future. During primary school, 97% of Lithuanian children enjoy some form of IT education. The country is doing its best to embed tech into the education system and providing young children with exciting opportunities during their learning. For example, preschoolers learn to code and build robots. It seems to be working, too. As a result, the number of new IT students is increasing every year. The statistics are just as promising for higher education too. Inside the EU, Lithuania is the country with the most graduations in mathematics and science per capita – and in the age group 30-34, Lithuania is the country with the most university graduations in the EU. Lithuania’s technology sector is in good hands.
It’s no surprise that Lithuania’s technology hub is supported by some of the world’s best tech infrastructure. In recent decades, the Lithuanian government invested heavily in its infrastructure to enable the tech sector to flourish. They have the highest Fibre penetration and average broadband speeds in the EU. Their public Wi-Fi network is the fastest in the world. Great links by air travel and the best roads in the EU also make it a very accessible country.
An open and cosmopolitan economy and culture
Between 2010 and 2014 Lithuania experienced the second most rapid growth of productivity inside the EU. Average wages are at a very competitive level. The country benefits from an enjoyable business and investment climate with low taxes and plenty of room and support for start-ups. They are international, hardworking and creative folks. Almost 100% of its professionals speak English and 69% of the ones between 18 and 35 would like to work for an international company.
You’re in good company
Barclays, Uber, Nasdaq. A growing list of innovative, high-tech companies have chosen to move some of their operations to Lithuania. As the Silicon Valley and other tech hubs around the world have proven, IT is an industry that thrives when there’s a strong community supporting it. Lithuania’s technology sector is no different. An Uber spokesman is confident in the future of Lithuania, which, according to the world-famous ride-sharing company, “houses some of the best global engineering talent and we look forward to further growing our team in Europe’s secret tech powerhouse”. This tech expertise strengthens the knowledge base and helps the country to become even more attractive for forward-thinking technology companies in the future.
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