Tech Cities in Motion

Savills Tech Cities index measures 30 cities from around the world against 100 individual metrics, ranging from the volume of inward venture capital investment through to the cost of a flat white coffee, to establish which cities are the most successful homes for tech and start-up companies


SUMMARY

  • Savills Tech Cities are important centres for tech in their region and VC investment hotspots. Vibrant cities in which to live and work, they are magnets for talent. The Savills Tech Cities index measures what makes them successful.
  • Tech Cities are outperforming other global centres. GDP across the 30 Tech Cities is forecast to rise by 36% in the next decade, against a rate of 19% across other developed cities.
  • New York has emerged as the premier Tech City in this year’s index, overtaking San Francisco. Access to a deep talent pool and the city’s reputation as a global centre of commerce makes New York the global leader.
  • Chinese Tech Cities have risen fast, and now account for a higher share of VC investment than their US counterparts. Beijing recorded an average $34 billion of VC p.a. in the last three years, volumes higher even than New York and San Francisco.
  • Chinese cities have also emerged as leaders in shared mobility services. Our overall mobility ranking puts London first, however, thanks to transport innovations and an urban form conducive to cycling and walking.
  • The expansion of coworking space has gone hand in hand with the growth of the global tech sector. The average coworking-cost for a desk in a private office is $590, and is highest in San Francisco at $1,050.

THE CITIES AT THE FOREFRONT OF GLOBAL TECH

In this, the third edition of Savills Tech Cities, five mainland Chinese cities make our ranking for the first time. These, together with other new entrants, brings our total Tech Cities to 30 (see below).

30 cities

30 Tech Cities

Testbeds for innovation, our Tech Cities are at the forefront of addressing transportation challenges.

To assess how effective they are, and how they compare, this year we’ve added a new ‘mobility’ category. It explores how effective our cities are at getting people from A to B.

WHAT IS A SAVILLS TECH CITY?

  • An important centre of tech within its region
  • Major recipient of VC investment
  • On the shopping list for expanding global tech companies
  • A vibrant city in which to live and work
  • A generator of, and magnet for, talent

The Savills Tech Cities index measures what makes a successful Tech City. Our assessment for each city comprises of over 100 individual metrics, ranging from the number of days needed to start a business through to the cost of a flat white coffee. These metrics are grouped into six categories: business environment, tech environment, city buzz & wellness, talent pool, real estate costs, and mobility. Each category is weighted to reflect its importance to the tech sector.

Source: Savills

This article is culled from daily press coverage from around the world. It is posted on the Urban Gateway by way of keeping all users informed about matters of interest. The opinion expressed in this article is that of the author and in no way reflects the opinion of UN-Habitat.

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Savills

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