Two decades ago, Belfast was mainly associated with political and civil unrests, however, in the last few years, Northern Ireland’s capital has seen an increase in employment rate, a full-on tourism boom, and extensive infrastructural development.

The city on the river Lagan has experienced immense growth in tech startup companies, most notably those engaged in SaaS as well as FinTech, MedTech, and other related industries. Relatively low cost of living and a significant rise of foreign direct investment makes Belfast interesting to both foreign and domestic companies and a great spawning ground for new business ventures.

Belfast’s digital industry is rapidly expanding

According to a report published by Tech Nation, digital industry startups in Belfast are growing at a rapid pace with a 143 percent increase in new digital companies established in this city alone. The report shows an increase in employment rate but also in overall industry turnover with an amazing 98000 GBP per employee in 2017. Digital marketing companies all over Europe, including powerhouses such as AWISEE, report a growing demand from U.K.-based companies, specifically those from the second-largest city in Northern Ireland.

Companies that offer software as a service are among the leading startup entities in Belfast, although the city has seen a substantial development of other types of digital businesses. According to investment balance statistics, Belfast is a city with the highest growth potential, mainly due to the number of seed-stage companies established in the last few years. Moreover, Belfast’s pre-seed investment rate has doubled which further enhances the overall growth capacity for the digital industry.

What drives Belfast’s growth?

Queen’s University is one of the most notable academic institutions in the UK with nearly two centuries-long tradition in higher education. This university attracts some of the brightest minds in the U.K. as well as a wide range of international students that often decide to stay in Belfast due to the low cost of living and ample chance for employment mainly for gifted engineers. A high-quality education system has always been an important driving force behind the development of every city and Queen’s University is not an exception.

Another important aspect of Belfast’s enhanced digital transformation is the increase in foreign direct investments which have attracted a large number of young software developers who are looking for a job opportunity or a chance to connect with investors for their startup ideas. The infrastructural improvements in terms of hotels and living accommodations further increase Belfast’s appeal to people who are looking to make this city their new place of business.

Belfast is the fourth most connected city in the world, which is not a surprise given the fact that it was the first city in Europe with 100 percent broadband internet. Such a strong internet infrastructure made N.I.’s capital city a natural spawning ground for the digital industry. In the last ten years, Belfast became home to thousands of digital industry workers and companies which came as a result of a massive migration of large tech corporations. As Google, Microsoft, LinkedIn, Dell, IBM, and numerous other tech magnates established their European base in Ireland in the early 2000s, it was only natural that those who expect to work with these titans would look to place themselves right in the neighborhood.