Alexandra Borgeaud
Research expert covering cybersecurity and tech in Latin America
Technology in Belgium - statistics & facts
The technology industry in Belgium is currently experiencing a period of growth and innovation and is expected to drive the country’s economy in the future. This can be attributed to a range of factors such as a favorable business climate, government support, and a highly skilled workforce. As a result, more and more businesses are taking advantage of the opportunities presented by the digital age. The industry is poised for continued growth in the coming years, with revenue in the IT services market projected to exceed 10 billion euros in 2027.
A hub for tech companies
The rise of startups constitutes one of the major drivers of growth in the technology industry in Belgium. Located in the heart of Europe, the country has become a hub for tech startups, thanks to the availability of funding, policy incentives from the government, and a strong entrepreneurial culture. Out of the 33 startups with unicorn status in the Benelux region in 2022 – companies valued at over one billion euros – seven were based in Belgium. Moreover, as a result of its cultural and linguistic diversity, Belgium’s tech ecosystem is not just concentrated in the Brussels-capital region but spread out across different cities. More generally, the use of digital technologies by Belgian companies, such as cloud computing or big data, remains one of the country’s strengths in comparison with the European Union average.Digital skills in high demand
While the availability of workers with digital skills represents one of Belgium’s core advantages, the country is facing a shortage of skills in particular areas such as artificial intelligence, robotics, and cybersecurity. This is a common issue across the technology sector, although the government and private sector are working together to address this issue by investing in education and training programs. Such investments, coupled with Belgium’s network of technology startups and research institutions, are bearing their fruit, positioning the country as a hotspot for innovation, notably in the fields of pharma and biotechnology.
