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- European city with ‘Costa del Crime’ label wants to reinvent itself as the Europe’s rival to America’s Silicon Valley
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European city with ‘Costa del Crime’ label wants to reinvent itself as the Europe’s rival to America’s Silicon Valley
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For decades, the sun-drenched coastal city of Marbella on Spain’s Costa del Sol has been defined by two things: extreme wealth and international fugitives but now, the city is attempting a transformation, a report has claimed, adding that local authorities and business leaders are pushing a “Marbella 2.0” vision, which aims to reinvent the leisure destination into Silicon Valley of Europe, with Marbella acting as its Palo Alto.Fortune reported that Marbella is famous for signposts that direct visitors straight to luxury brands like Rolex and Louis Vuitton even as the streets are packed with Ferraris and Lamborghinis. Moreover, there has been a reported influx of criminals seeking a safe haven from the law even earned the region a notorious alternative moniker: the “Costa del Crime”.“We’re helping shift the narrative around Marbella from a leisure destination to a serious hub for modern professionals. The future of Marbella is going to look very different to what it looks like now,” said Christian Rasmussen, CEO of the local business hub The Pool.
A new generation of ‘tech’ expats are coming to Marbella
While Marbella’s real estate market was once dominated by middle-aged Europeans looking for retirement or second homes, the post-pandemic era has brought in a younger generation of globally connected founders, tech workers and investors looking to live and work year-round, the report noted.The changing demographics are visible everywhere as the number of international schools in the area has increased from around 11 four decades ago to more than 50 today to accommodate younger expat families.Additionally, mimicking luxury hubs like Dubai and Miami, developers are partnering with high-profile names. Tennis icon Rafael Nadal has teamed up with Giorgio Armani to build 33 ultra-luxury mansions, alongside residential projects by fashion houses like Fendi, Dolce & Gabbana and Karl Lagerfeld.To serve these rich clients, high-end global restaurants are quite literally waiting in a queue to open, with space becoming highly limited due to the city’s small geographic footprint.Tech professionals are choosing the city for its unparalleled quality of life. Bob van Winden, a Dutch tech veteran who previously worked at Google and Stripe in San Francisco and Dublin, moved his family to Marbella after his startup, Bridge, was acquired by Stripe.“Advances in AI mean it’s easier than ever to start a tech company with only a handful of staff. As long as you have a good Wi-Fi connection, you can build a great company now,” van Winden noted, adding that Marbella provides the perfect mix of capital, community, and lifestyle.According to data from Idealista, the average price of housing for sale in Marbella has skyrocketed by approximately 74% over the past five years, surging from 3,225 euros per square meter in June 2021 to 5,608 euros per square meter in June 2026.
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