What Are Tech Cities?
Savills defines a Tech City as an important tech hub in its region for expanding global tech companies. A Tech City is also a venture capital investment hotspot, a vibrant city to live and work, and a generator of, and magnet for, talent.
Savills Tech Cities are the most successful homes for tech and start-up companies. These cities are among the fastest growing economies in the world with a projected GDP growth of 36% in the next decade, against a rate of 19% across other developed cities.
Savills Tech Cities metrics
The Savills Tech Cities index measures what makes a successful Tech City by assessing a comprehensive set of over 100 metrics under six categories: (1) Business Environment; (2) Tech Environment; (3) City Buzz & Wellness; (4) Talent Pool; (5) Real Estate Costs; (6) Mobility.
New York has overtaken San Francisco to be the premier Tech City in 2019 with access to a deep talent pool and the reputation as a global centre of commerce.
San Francisco remains to be a global tech hub with higher tech environment ranking than New York.
London ranks third with impressive performance on city buzz and wellness, mobility and venture capital investment.