Silicon Valley is known for its robust commercial status, its innovative technology-based industries and high-valued market settings. Nevertheless, success of any kind is not permanent.
Unless the reasons for one’s success is maintained or improved, it can ultimately deflate later on.
This is what is happening in Silicon Valley, and what this place needs to better understand.
Rising Employment Demand
As part of the effect of globalization, employment has been influenced in so many ways. One of these ways is the increasing number of unemployment even in the United States.
Jobs have become more difficult to find or even if they are, succeeding in their applications have become terribly difficult.
Competition in employment has become so massive and demanding. It is not enough that you have experience, skills and knowledge.
There are many things about one’s personal background that is required in order to succeed in the application process. Fortunately, Silicon Valley is known for its many opportunities.
Unfortunately, these opportunities are limited. What can be done, however, is to continuously develop the cities in this region so that more jobs could be made available.
Rising Housing Applications
Jobs are directly related to housing requirements. The more jobs in one place, the more demand for housing opportunities.
Silicon Valley simply cannot develop its cities to increase job opportunity without increasing its housing opportunity. These two factors are intimately related to each other.
Developing the cities of Silicon Valley will give more jobs and give more homes.
Global Market Competitions
Silicon Valley is not the only region in the world that is thriving economically. There are many places on the globe that is succeeding in the same process. In order to remain competitive in the market, this region needs to up its game.
This means developing its cities so that the commercial industry could be more successful.
Remaining on top will not be possible unless this region is able to meet the demands of a globalized industry.
Interconnected Global Network
The rise of the internet has also popularized interconnectivity between industries, cities and people.
While it is true that Silicon Valley is known for its technological innovations, it cannot depend on its existing technology to compete with other regions in the nation or in the world that are focused on progressively manufacturing innovative products.
Silicon Valley must be able to continuously provide open spaces for big tech companies that have a global influence like Google.
If Silicon Valley wants huge businesses to reside in its cities, it has to develop what it currently owns so that they look more attractive to commercial opportunities.
Globalization is a significant factor in today’s commercial success. Everything has to be interconnected; otherwise, a business operation may be found lacking with its ability to deliver.
It is imperative, therefore, for regions like Silicon Valley to promote city development so that it could compete sufficiently with other booming regions in the market.
Unless Silicon Valley is committed to industrial growth, its cities will not be able to keep fighting external global forces that threaten their success.