The prize of “world’s top tech city” fell to New York, which just edged out San Francisco. Singapore dominated the Asian continent, coming it at sixth worldwide. Melbourne achieved a respectable placement of 22, one place ahead of South Korea’s Seoul.
The index aims to measure which cities provide the best platform for success in technology and for start-up companies in general. The metrics include measurements ranging from the number of days needed to start a business to the cost of a flat white coffee.
The metrics fall in six categories: business environment, tech environment, city buzz & wellness, talent pool, real estate costs, and mobility. Each of these is weighted as a reflection of their importance to the technology sector.
The research revealed that Chinese cities now attract a higher share of venture capital investment than their US counterparts, with Beijing recording an average USD34 billion of venture capital per annum in the last three years.
Top 30 cities in Savills Tech Cities index:
- New York
- San Francisco
- Los Angeles
- Tel Aviv
- Hong Kong
- Buenos Aires
- Cape Town