International companies create thousands of new Amsterdam jobs

Last year 143 new international companies opened offices in Amsterdam. In the next three years, these companies are expected to create 2,700 new jobs in the Dutch capital. International companies already established in Amsterdam also expanded over the past year, creating over 4,100 new jobs, the city of Amsterdam announced in a press release on Thursday.

Most of the new international companies that settled in Amsterdam last year are active in ICT, financial services and the creative industry. North America was the biggest source of investment, responsible for 36 percent of new companies and 53 percent of new jobs. The United States also accounted for 57 percent of new jobs created by expansion. The Europe, Middle East and Africa region accounted for 36 percent of new companies and 23 percent of new jobs, and Asia represented 25 percent of new companies and 23 percent of new jobs.

"Amsterdam enjoys a strong competitive position as a location for international businesses and startups thanks to its strategic placement within Europe, its excellent logistics networks, its function as a data hub, and its ability to attract talent", Economic Affairs alderman Udo Kock said. "Our city's strong standing has generated a huge number of jobs in Amsterdam and the surrounding region: over 6,500 more last year alone. And that's not even including the jobs that will be created by the European Medicines Agency move."

The European Medicines Agency, currently based in London, announced last year that it will be moving its headquarters to Amsterdam due to the Brexit. The EMA will move to Amsterdam in 2019. According to the city, this will make the Netherlands more attractive to companies active in medicine, life sciences and other related fields, because they often prefer to be located near such a vital European agency.

"It's important that Amsterdam doesn't take the establishment of international companies for granted, but that we continue to invest in infrastructure and in building office spaces, international schools and housing throughout the city and the region", Kock continued.

The number of new companies that established themselves in Amsterdam last year decreased slightly compared to 2016, when 157 new international companies opened offices in the city. The municipality attributes this decrease to a number of factors, including a decrease in foreign investment in the EU, office space shortages, rising prices, and uncertainty about changing regulations and the Brexit.

Amsterdam did very well in international rankings for 2017, according to the city. IBM's Global Location Trends report ranked Amsterdam second world wide for attracting foreign investment. The Global Power City Index placed Amsterdam third among EU cities for attracting international talent and investment. And Amsterdam was named the safest city in Europe on the Economist's Safe Cities Index.