Tech talents now choosing Europe over US, Trivago’s Schromgens says

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Rolf Schroemgens, co-founder and CEO of Trivago GmbH, at the Nasdaq MarketSite during the company’s IPO in New York, U.S., on Dec 16, 2016.

Europe is also a beneficiary of the U.S. “talent drain,” Schromgens said, because of what it has to offer compared to American firms and culture.

“When people think about where they want to work, where they want to stay for the next years, that is way more important [than the possible decline in hotel prices] and I think that’s what we see,” Schromgens said. “They might think, I can go to U.S. and Silicon Valley, but I can also go to Europe, and maybe it’s more secure for me to go to Europe than to go to the U.S.”

Trivago has seen strong growth since going public in December 2016. First quarter revenue rose by 68 percent period-over-period and shares are up about 85 percent since the beginning of 2017.

The thriving global tourism industry, especially in China and Asia, has contributed plenty to this growth.