Ghent Leads Flemish Job Creation with €61B Startup Ecosystem
Ghent has emerged as the leading job creator among Flemish cities, with its startup and scale-up ecosystem now valued at €61 billion and the city capturing one-third of all foreign investment-related jobs in Flanders. According to new economic data presented to the city council and reported by VRT NWS, the city now hosts over 215,000 jobs — a 30% increase over the past 15 years.
With 122 jobs per 100 working-age residents, Ghent must draw talent from beyond its borders to fill available positions. No other major Flemish city matches this employment density.
A Technology-Driven Transformation
The job growth is overwhelmingly concentrated in the technology and innovation sectors. The city added 4,065 new commercial sector jobs — primarily in services and technology — alongside 1,366 new industrial positions. The figures underscore a fundamental shift in Ghent’s economic profile from its traditional industrial and port-based economy toward a technology and innovation hub.
Alderman Sofie Bracke (Voor Gent), who presented the data to the city council, described the transformation as “spectacular.”
“The new digital technology companies are providing an enormous economic boost, the growth is spectacular. If you say technology in Belgium, you automatically say Ghent. You can see that in the numbers.”
Bracke emphasized that the startup ecosystem has become a new motor for employment, building on the city’s historically strong industrial base and well-anchored biotech sector.
Foreign Investment Magnet
In 2025, Ghent attracted 41 foreign direct investment (FDI) projects worth more than €500 million, generating approximately 1,800 new jobs. Analysis by Flanders Investment and Trade (FIT) reveals that three-quarters of these FDI-related jobs are directly linked to the growing technology and innovation sector, particularly startups and scale-ups in digital technology.
Ghent now captures one-third of all Flemish jobs resulting from foreign direct investment — a remarkable share for a city of approximately 265,000 residents (metro area ~550,000).
Key Growth Hubs
Three geographic clusters are driving this expansion. The UGent Technology Park in Zwijnaarde concentrates approximately 1,000 jobs and has 10 FDI projects in the pipeline, serving as a major research and development hub that attracts international companies and investors.
The Port of Ghent, Belgium’s third-largest port, remains a vital economic engine with 10 new FDI projects contributing 700 new jobs. Meanwhile, 16 FDI projects are flowing into the city center, many centered around the Wintercircus — a historic circus building transformed into a technology and innovation hub hosting over 35 early-stage startups.
A Startup Powerhouse
Ghent’s startup and scale-up ecosystem is now valued at €61 billion, representing nearly 70% of the entire Flemish startup market. This concentration of value in a mid-sized city is remarkable by European standards.
The city has produced notable scale-ups including Showpad, a global sales enablement platform; Aikido, a cybersecurity company serving over 50,000 clients including Revolut and SoundCloud; and Lighthouse (formerly OTA Insight), which joined the unicorn club with a valuation exceeding €1 billion. Aikido’s expansion into North America recently drew Louis Jonckheere, the former CEO of Wintercircus, to lead its U.S. growth — a move covered by regional broadcaster AVS.
Implications for Flanders
Ghent’s outperformance of Antwerp — Belgium’s second-largest city and a traditional economic powerhouse — signals a shift in Flanders’ economic geography. The city’s successful transition from an industrial port economy to a technology and innovation hub offers a potential model for other mid-sized European cities facing industrial transformation.
However, questions remain about the sustainability of this growth. With employment already exceeding the working-age population, Ghent must continue attracting talent from outside the city. The heavy concentration of FDI jobs in technology (75%) also raises questions about exposure to technology sector cycles.
What to Watch
As Ghent’s startup ecosystem matures, attention will focus on whether the city can maintain its growth trajectory amid potential constraints around talent availability and infrastructure. The city’s ability to continue attracting foreign investment — particularly in an increasingly competitive global market for tech capital — will be a key indicator of whether this economic renaissance can be sustained.
For now, the numbers tell a clear story: Ghent has established itself as Flanders’ premier destination for job creation, technology innovation, and foreign investment.