New York edges San Francisco to top tech cities index

The third edition of Savills Tech Cities lists the Big Apple as the world's leading tech city, while five Chinese cities enter the list for the first time

5Feb

New York City has been named as the leading tech city in the Savills Tech Cities 2019 index, ahead of San Francisco and London, which came second and third, respectively.

Compiled by local and international property experts Savills, the Savills Tech Cities 2019 index focused on cities it viewed as being important centers for tech within their region and VC investment hotspots.

Savills found that New York's "deep talent pool" and its "reputation as a global center of commerce" was what made it stand out from the competition, with 29 other cities from across six continents also featuring on the index.

The report, the third of its kind, found that tech cities have been outperforming other global centers, noting that GDP across the 30 tech cities was forecast to rise by 36% over the next decade, compared to a rate of 19% for other developed cities across the planet.

It also noted that Chinese tech cities have risen fast since the last edition, as they now account for a higher share of VC investment than their US counterparts. China's capital Beijing recorded an average $34bn of VC per annum over the last three years, which is higher than both New York and San Francisco.

The index took into consideration 100 individual metrics including size of finance and business services sector, R&D, tech infrastructure, city wellness, and immigration and talent attractiveness. All metrics were grouped into six categories: Business environment, tech environment, city buzz and wellness, talent pool, real estate costs, and mobility.

The mobility category, the latest addition to the index this year, explored how effective the listed cities were at getting people from A to B.

Savills Tech Cities: Top 10

1: New York

2: San Francisco

3: London

4: Amsterdam

5: Boston

6: Singapore

7: Los Angeles

8: Austin

9: Stockholm

10: Copenhagen

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