Toronto is among the leading cities in the world for the tech sector but has missed out on the top 10.
The Tech Cities rankings from global real estate firm Savills has New York City at number one, thanks to its deep talent pool and position as a global centre of commerce.
NYC takes the crown from San Francisco which is losing out from rising costs of co-working which are the highest in the world.
London, Amsterdam, Boston, Singapore, Los Angeles, Austin, Stockholm, and Copenhagen complete the top 10 with Toronto ranked 11th.
Five mainland China cities make the top 30 rankings for the first time this year and Paul Tostevin, associate director in Savills World Research team and lead researcher on Tech Cities says its part of an interesting trend over the past 2 years.
“While largely mid-table overall, these cities now account for more VC investment than their US counterparts: the US-city share of the VC investment into our 30 Tech Cities has dropped from a 40% share to 28% since 2012, while Chinese cities have seen their share rise from 11% to 36% over the same period,” he said.
The cities are ranked based on key factors including business environment, tech environment, city buzz & wellness, talent pool, real estate costs, and mobility.
The full report is available at savills.com
