By 2030, Millennials will outnumber baby boomers across the globe by more than 22 million. For this digital generation, the soul of a city – its culture, street life and opportunities to work and play – are vastly more important than shiny, high rise office buildings.
Manchester already has this habitat in spades, combined with an emerging reputation as a technology hub which we believe will become even more established over the next few years. Savills analysis of cities at the forefront of global tech has shown that they are not all large (see graph, below). What they do have in common is quality of life, talent pool, lower property costs than major world class cities like New York and London and a growing business and techonology environment. Look no further than Manchester for all of these things.
For tech cities, it is all about attracting human capital and the particularly high levels of graduate retention in Manchester mean its Millennial population is growing all the time. But what about attracting Generation Y-ers who have studied or grown up elsewhere? With the bright lights of London attracting young people in droves despite the vast majority of their salary being swallowed up by the cost of living, some firms still struggle to recruit new talent in the North. Manchester needs to focus on building its brand as a city in which ambitious Millennials can have a tech career equal to or even more successful than they could in the capital.
This combined with the magic ingredients of an established café culture, arts and music scene and affordable property ladder that are already in place, means the sky really is the limit for Manchester as a thriving tech city.