Earlier quoted context omitted.
No way. Europe's Silicon Valley will establish in Eastern Europe, where living is cheaper and governments are more willing to ease up on regulations to accomodate the flexible start-up employer-employee relationships. Warsaw, Sophia, Tallinn, those are the spots to keep an eye out for.
Speaking of Estonia, I was at their embassy in Stockholm last fall and they were pushing hard for Tallinn as the next European capital of tech. Nearly every conversation you had with them, regardless of topic, would somehow gravitate toward how great Estonia is to set up a tech shop. Whether because of cheap real estate or the quality of their work force, or the prevalence of craft beer – it was all just a great plac…
The advantage partially comes from the fact that developers are paid significantly above average wages, i.e. the average salary for most people is low (like 400 to 600 euros a month pre tax) yet developers take home 1,500 / 2,000 / 4,000 euros per month.
Cost of living + taxes are low as well.