European tech continues to undergo a strong level of geographic diversification, meaning that tech activity is growing in more cities in more countries than ever before. This trend also includes geographic diversification within countries and away from the main hubs. There are potential downsides, of course, but there are also material benefits from the lower cost to operate outside of the main hubs.
- Based on data for 2Q 2019. EUR to USD (1 EUR = 1.1367 USD) conversion taken from 30 June 2019 from Bloomberg.