Cities and regions from across the world are competing to retain and attract talent. As the economy becomes increasingly global and mobile, talent is a factor that has become recognised for its capacity to connect cities, regions and countries to global value chains and develop successful strategies for sustainable growth. Talent is the key to growth, innovation and competitiveness.
Euskadi/Bizkaia/Bilbao want to get a foothold in that competition, so Bizkaia Talent has produced a report and index that measures and compares the competitiveness of 27 European cities. Bilbao occupies 14th place on the list, which is led by Copenhagen, Zurich and Helsinki.
“As cities and regions compete globally for future talent” it shows how the race for talent between cities and regions has intensified and contextualises the European Talent Competitiveness Index. The study highlights how the Scandinavians are doing things best: cities like Copenhagen and Goteborg are examples that can serve as a benchmark. Additionally, most innovation occurs in small places, cities with between 100,000 and 500,000 inhabitants, although places like Madrid, Paris and Berlin score very highly. Furthermore, it is evident that international cooperation is essential for identifying solutions. Cities are the perfect place to combine innovation policies and promote connections; sharing data and experiences is key to success.
In this “war for talent”, each place offers its value proposition. According to the report, the following 9 aspects should be incorporated into Euskadi/Bizkaia/Bilbao’s value proposition:
- Increasing efforts to collect local data
- Using open data to map the composition of regional competencies
- Having measureable objectives
- Choosing the best practices
- Choosing priorities and segmenting objectives
- Continuing to learn through international cooperation
- Exploiting strengths to attract international talent
- Continuing to build the Bizkaia brand
- Involving "ambassadors" and Basque expatries