In the third edition of Savills Tech Cities index, Cape Town made the cut for the list of the top 30 tech cities in the world.
The index measures exactly what makes a city a successful tech hub and ranks it according to six factors, namely business environment, tech environment, city buzz and wellness, talent pool, real estate costs, and mobility.
Cities around the world are judged using over 100 individual metrics to determine their rankings. The highest-ranking cities are those that make the most successful places for tech and start-up companies.
The cities chosen are important centres for tech in their region and Venture Capital investment hotspots. They are vibrant places in which to live and work and magnets for talent.
These cities outperforming other global centres and the 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.
The expansion of co-working space has gone hand in hand with the growth of the global tech sector with more co-working spaces popping up in Cape Town every day.
As testbeds for innovation, Savills Tech Cities are at the forefront of addressing transportation challenges. To assess how effective these cities are in this area, and how they compare to one another, a new ‘mobility’ category was added to the index this year. It measures how effective each city is at getting commuters from A to B.
What is a Savills Tech City?
– An important centre of tech within its region
– A major recipient of VC investment
– One of the most attractive destinations for expanding global tech companies
– A vibrant city in which to live and work
– A generator of, and magnet for, talent.
The top 30 Tech Cities are:
1. New York
2. San Francisco
3. London
4. Amsterdam
5. Boston
6. Singapore
7. Los Angeles
8. Austin
9. Stockholm
10. Copenhagen
11. Toronto
12. Seattle
13. Tokyo
14. Paris
15. Shanghai
16. Berlin
17. Beijing
18. Tel Aviv
19. Dublin
20. Hong Kong
21. Barcelona
22. Melbourne
23. Seoul
24. Shenzhen
25. Hangzhou
26. Chengdu
27. Santiago
28. Buenos Aires
29. Bengaluru
30. Cape Town
See the interactive top tech city map here.
Picture: Pexels
