The Southern Spanish Silicon Valley or Costa del Tech
Costa del Tech… It is called the Spanish Silicon Valley. The “Parque Tecnológico de Andalucía“.
A technology park that was founded in 1992. This was the first technology park in the state of Andalusia and was a reference point in the city of Malaga. It started at the time with only 8 companies, it is now 25 years later become a base for 600 companies and 17,000 employees.
Almost 800 million euros were invested (of which 600 million came from private investors) in the construction of the park and equipment needed to support the companies and institutes. Before setting up the park, Malaga was considered to be a slowly evolving business region with a shortage of innovation and technology. But more than 2 decades later, the so-called Spanish Silicon Valley generates between 6 and almost 9% of the GDP of Malaga and gives it a 7 to 10% boost to employment in the statistics of the Province.
Multinational technology companies such as Oracle, IBM, Huawai, Siemens and Telefonica together with many start-ups generate almost 2 billion euros.
The park has attracted thousands of highly qualified and talented people from all over the world and it is expected that the expansion will only increase. The economy that attracts on the Costa del Sol, the growing property market and the many foreign investments have had a major impact on the development of the park.
The Costa del Sol is a region in full expansion and will play an important international role in the coming years and not only because of its attractive tourist destination,
The technology parks are intended as an incubator for start-ups that develop innovative products and allow new ideas to flourish. The Costa del Sol is no longer just the Costa del Golf, but also the Costa del Tech and it is another proof of the great diversity of the region around Malaga.
Let us know if we can help you find your ideal property, while working at the Costa del Tech!