WHATSAPPThe Global Talent Stream, introduced by Canada to accelerate the visa processing for international tech workers, has helped to boost tech worker immigration to the country on a large scale. It has resulted in tech workers from across the world preferring Canada over the US as their favorite destination. Currently, the US IT companies are keen about setting up offices in Canada with an aim to tap the tech talents in the country. Moreover, Canadian cities such as Toronto, Montreal, Vancouver and Waterloo are fast turning into prominent international tech hubs with specialization in AI.
Many big multinational IT companies have already set up their offices Canadian cities such as Toronto, Waterloo, Vancouver and Montreal. The factors that attract tech companies to Canada are availability of tech talents and cheaper salaries. While a tech worker in Toronto earns an average of $100,000, in San Francisco, it is $145,000. Similarly, the stricter visa rules in the US are making it difficult for IT companies to attract international IT talents to the country. The data from the US Department of Homeland Security shows that compared to the previous year, the US issued 10% fewer H-1B visas between October 2017 and September 2018.
Canada also has huge demand for international tech workers. According to the 2019 Scoring Tech Talent report of CBRE, 80,100 tech jobs were created in Toronto between 2013 and 2018, while the number of tech degrees issued during these years was 22,466. It means there were 57,634 more tech jobs than tech grads.
The Global Talent Stream, an exclusive program launched by Canada for international skilled tech workers for accelerating the visa processing, has effectively reduced the visa application time for tech workers from 10 months to just two weeks! Using this program, 1000 technology companies in Canada successfully hired 4,000 overseas workers by January 2019. Canada is facing a huge scarcity of tech talents and the country needs to fill around 200,000 jobs in the next three or four years.
Another major factor that makes international tech workers prefer Canada over the US is the lower cost of living. San Jose–Oakland–Haywood area is an expensive metropolitan area in the US. The cost of living is way too high compared to Canadian cities.
While Toronto has a broad-based tech sector, Montreal is a hub of artificial intelligence and machine learning. Vancouver has the advantage of being close to San Francisco and Seattle. In short, Canada is an ideal place for skilled foreign tech workers to settle as they can tap the vast career opportunities that Canada offers.
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