While Silicon Valley is known as the dominant region in global technology, only a third of executives say with strong confidence that it will maintain its leading position in innovation in the long run.

The COVID-19 pandemic has accelerated new ways of working, but “technology hubs” around the world have come to stay, according to new KPMG research, although they may not be in Silicon Valley .

When many offices and urban centers closed in early 2020, all human resources turned to long-distance work, with some workers leaving large cities in search of larger and more economical spaces, among other reasons. However, technology leaders believe that the future success of the industry will depend on the balance between physical workplace and greater flexibility.

More than 800 technology industry leaders took part in KPMG’s latest Technology Industry Survey. 39% believe that hub cities such as London, Singapore and Tel Aviv will continue to play a vital role, allowing talented people to integrate and collaborate in communities with strong digital infrastructure. Only 22% believe that these nodes are no longer important. The findings are similar to those of KPMG’s 2021 CEO Outlook Pulse Survey, which found that 78% of technology leaders have no plans to reduce their physical footprint and only a quarter (26%) expect to hire in the future talented staff who will work mainly remotely.

Alex Holt, Global Head of Technology, Media and Telecommunications at KPMG, comments: “The success of the technology sector surpassed most other industries during COVID-19, with many companies recording significant growth since its inception pandemic. This has further promoted the notion that creativity and innovation can now be grown literally anywhere, with collaboration becoming more online and global.

Source: emea.gr