Singapore ranks top in Asia, while San Francisco loses its perch as greatest home for startups and technology companies
New York just beat San Francisco for the honour of “world’s top tech city” while Singapore dominated Asia, a new ranking by Savills showed.
For its “access to a deep talent pool” and a reputation for being a global commercial centre, New York took over the number one spot from the Californian city in this year’s Savills Tech Cities Index.
“It is no coincidence that Amazon recently selected New York’s Long Island City as a location for its second headquarters, citing the ability to attract world-class talent as a key determinator,” Savills stated in its report, adding that venture capital (VC) investment volumes in the city have topped those of San Francisco for the last three years.
Singapore ranks sixth worldwide, squeezed between Boston (fifth) and Los Angeles (sixth). Excelling in the tech and business environments, the city-state ranks 10th best worldwide for metro systems, under the mobility subranking.
The index measures 30 cities from around the world against 100 individual metrics that establish which cities are the most successful homes for tech and start-up companies.
Elsewhere in the top 20, Tokyo is positioned at 13th, although cities in mainland China have risen fast up the list, the report noted.
Chinese cities now account for a higher share of VC investment than their US counterparts. Beijing, in 17th place, recorded an average USD34 billion of VC per annum in the last three years, volumes higher than New York and San Francisco.
Top 10, Savills Tech Cities Index:
- New York
- San Francisco
- Los Angeles
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