Austin Ranked #1 Best City in the World for Tech
Savills recently released their list of the top 22 cities in the world “at the forefront of the global tech industry,” with Austin taking the #1 spot. The research program’s goal is to understand the many diverse drivers that make up good cities for the tech industry.
According to the report, there are five main things that define the top tech cities:
- Tech environment – How big of a tech hub is it in its global region?
- Business environment – Presence of home grown start-ups and incubators
- City buzz and wellness – Is it a top choice for expanding global tech companies?
- Talent pool – Does it have a vibrant urban environment that attracts talent?
- Housing affordability – Cost of real estate
The index used to rank these 22 cities measures what makes a successful tech city and is comprised of 100 individual metrics grouped into 5 categories: business environment, tech environment, city buzz & wellness, talent pool and real estate costs.
Below is a breakdown of the top 22 cities and how they ranked across these categories.
What puts Austin a step above San Francisco?
Although San Francisco still beats Austin for creating the most tech jobs, the report states that “Austin ranks first as a more affordable, talent-rich alternative to San Francisco” which came in at the number two spot. It also notes that Austin’s high quality of life is a key factor for the city making it successful at attracting human capital.
On top of being successful at attracting the human capital, Austin’s demand for Tech talent remains high according to the latest Austin Chamber Job Report. For the first time, Software Developers-Applications replaced Registered Nurses as the top posted occupation in March 2017.
For more statistics on the top tech cities in the world and what puts Austin above the rest, check out the Savills Tech Cities Interactive Map.
Want to Live in the #1 Tech City in the World?
Whether you work in the tech sector or are just attracted to Austin’s high quality of life, we would love to help you make Austin home. Please explore how we can help you with your real estate needs and don’t hesitate to reach out!
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