According to a recent research report by Savills plc (SVS: LSE), the cities that are attracting tech industry are not necessarily the largest. Indeed, Tel Aviv, with a population of merely 400,000 has been ranked as the 3rd Top Tech City in tyhe World, and 3rd Best Place Globally to Work in Tech, by Savills and WSJ.com.
Some cities “like New York, London, Singapore and Hong Kong, are global giants with pre-eminent cultural, arts and financial offerings that act as powerful magnets to many creative industries – including tech. Others are minnows by comparison, like Austin, Stockholm and even San Francisco, with particular lifestyle attractions for skilled workforces,” says WSJ.com reporter, Javier Espinoza.
“San Francisco may have cool startups and some of the biggest names in the technology business, but when compared with 11 other global cities with strong tech clusters, the city that is home to Silicon Valley under-performs in key metrics like business environment, quality of life and property prices,” according to WSJ.com.
The top 12 tech cities have been selected by Savills on the basis of their consistent appearance at the top of global shopping lists for tech companies looking for space in which to locate. Each is notable in having start-up and incubator communities in the creative tech sector, as well as a very broad range of other attractions to both large and small companies.
Savills also notes that, with the exception of Seoul, English is the pre-eminent or widely spoken second language in each of these cities; all have a distinct character and are well known; and they all have an active arts culture and attract young, creative people.
Savills plc is a global real estate services provider listed on the London Stock Exchange, and is a constituent of the FTSE 250 Index. It has an international network of more than 600 offices and associates throughout the Americas, the UK, continental Europe, Asia Pacific, Africa and the Middle East, offering a broad range of advisory, management and transactional services.