The 2019 Savills Tech Cities Index, listing the 30 best tech cities in the world, has been released.
We’re proud to say that Cape Town has made the list!
In fact, Cape Town is the only city on the African continent on the list.
Cape Town as a leading tech city
Cape Town, like all the cities on the index, was judged on six strands. These ranged from business and tech environments through to quality of life and ease of mobility.
Counting in Cape Town’s favour was initiatives such as French Tech’s incubator in Century City, the fact that the Western Cape is home to four top universities, and the suburb of Woodstock which Savills considered ‘an area to watch’. Of course it didn’t hurt that Cape Town is known as the ‘digital gateway to Africa’.
What does it take to be considered a Savills Tech City?
Savills Tech Cities share three important characteristics. The cities are:
- Important centres for tech in their region and venture capital investment hotspots.
- Vibrant cities in which to live and work, attracting and generating talent as a result.
- High on the shopping list for expanding global tech companies.
Other highlights from the 2019 Savills Tech Cities Index
By measuring cities against 100 individual metrics, Savills is able to gain a wealth of knowledge on the tech centres of the world. These were the main findings from the 2019 Index:
- Tech Cities are outperforming other global centres. 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.
- New York has emerged as the premier Tech City in this year’s index, overtaking San Francisco. Access to a deep talent pool and the city’s reputation as a global centre of commerce makes New York the global leader.
- Chinese Tech Cities have risen fast, and now account for a higher share of venture capital investment than their US counterparts. Beijing recorded an average $34 billion of venture capital per annum in the last three years, volumes higher even than New York and San Francisco.
- Chinese cities have also emerged as leaders in shared mobility services. Savills’ overall mobility ranking puts London first, however, thanks to transport innovations and an urban form conducive to cycling and walking.
- The expansion of co-working space has gone hand in hand with the growth of the global tech sector. The average co-working cost for a desk in a private office is $590, and is highest in San Francisco at $1,050.
- Testbeds for innovation, our Tech Cities are at the forefront of addressing transportation challenges.
Which countries join South Africa on the 2019 Index?
New York, San Francisco and London take the top three spots in the Index. The rest of the top 10 positions belong to Amsterdam, Boston, Singapore, Los Angeles, Austin, Stockholm, and Copenhagen.
The full list of countries is below. To explore the Index further, go straight to the Savills website.
