{"id":164243,"date":"2017-03-14T11:19:27","date_gmt":"2017-03-14T09:19:27","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=164243"},"modified":"2017-03-14T11:19:27","modified_gmt":"2017-03-14T09:19:27","slug":"cape-town-among-the-worlds-top-tech-cities","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/164243\/cape-town-among-the-worlds-top-tech-cities\/","title":{"rendered":"Cape Town among the world\u2019s top tech cities"},"content":{"rendered":"

Cape Town features among the world\u2019s top Tech Cities according to a recent report by global property firm, Savills.<\/p>\n

Ranked number 22 in the report, titled\u00a0Tech Cities 2017<\/em>, Cape Town, along with Santiago and Buenos Aires, is recognised as a major tech hub with potential as a rising global player.<\/p>\n

The Savills Tech Cities report explains the many, diverse factors that make places a good location for the tech sector, and identifies the 22 global centres at the forefront of tech, all of which have thriving and growing tech industries, home grown start-ups and incubators, and which are at the top of global shopping lists for tech companies looking for space in which to locate.<\/p>\n

“Cape Town is internationally acclaimed for a host of factors, not only its natural beauty and lifestyle, but also its world-class services and as a vibrant urban environment.<\/p>\n

“According to the City of Cape Town\u2019s Economic Performance Indicators Report, Cape Town is widely considered as a tech and e-commerce hub within South Africa and therefore an appealing destination from which to run an e-commerce business,” said Dr Andrew Golding, chief executive of the Pam Golding Property group, which is in association with Savills.<\/p>\n

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Ranking<\/p><\/div>\n

Among other factors, the cities highlighted in the report were assessed for factors such as \u2018buzz and wellness\u2019 which includes health of the urban environment, quality of parks, crime rates, healthcare, pay equality and commuting times, while \u2018city buzz\u2019 considers nightlife, entertainment and cultural offer.<\/p>\n

Notably Cape Town features\u00a0ninth on the Savills \u2018buzz and wellness\u2019 index and second on the cost of living rank – excluding property costs.<\/p>\n

The final component of the report took into account property costs such as the cost of renting commercial property for a \u2018scale-up\u2019 and established tech company, and the cost of renting residential property for employees.<\/p>\n

Top rated in the Savills report was the USA\u2019s Austin as the world\u2019s foremost \u2018tech city\u2019, offering the infrastructure, business environment, talent pool and lifestyle to make it a strong base for tech companies.<\/p>\n

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Two other US cities \u2013 San Francisco and New York \u2013 were ranked second and third\u00a0respectively, followed by London in\u00a0fourth\u00a0position.<\/p>\n

Access to venture capital and talent give US cities a lead over other global centres, said Savills, but Austin beats San Francisco to the top of the table because it has lower real estate costs and is so successful in attracting tech talent.<\/p>\n

However, while US cities dominate the top of the Tech Cities rankings, the rest of the top 10 consists largely of such \u2018liveable\u2019 cities as Amsterdam, Copenhagen and Toronto, which appear above traditional established global tech rivals such as Hong Kong and Singapore.<\/p>\n

This is due to the strong performance of these cities in terms of \u2018buzz and wellness\u2019 said Savills, with the firm noting these as factors that are likely to prove increasingly important to the tech industry in attracting future talent.<\/p>\n

On this basis, Berlin, London and Tokyo are the highest ranking. Berlin is the only city which appears in the top five cities for all three metrics (\u2018buzz\u2019, \u2018wellness\u2019 and cost of living) and ranks first.<\/p>\n

London and Tokyo, despite having lower wellness scores, are global metropolises and therefore are boosted by their \u2018buzz\u2019.<\/p>\n

Amsterdam is ranked fourth\u00a0and Toronto fifth, after scoring highly in both \u2018wellness\u2019 and \u2018buzz\u2019 while remaining affordable locations to live. Copenhagen is ranked\u00a0eleventh\u00a0in the index due to its high living costs, but is notable for being the world\u2019s foremost tech city in terms of \u2018wellness\u2019 and is therefore one to watch, said Savills.<\/p>\n

The real estate advisor noted that given the increased focus on wellbeing among the latest generation of workers, this could come to dominate their decision-making. Cities that deliver healthier environments are therefore likely to consolidate their positions as destinations for tech talent and occupiers.<\/p>\n

Accommodation costs – the cost of renting residential and office space per employee, per annum – stand at US$39,700 in Amsterdam, US$35,800 in Toronto, and US$33,500 in Copenhagen \u2013 half that of London, New York or San Francisco, where the same costs exceed US$65,000 per year.<\/p>\n

Paul Tostevin, associate director, Savills World Research, said: \u201cSmaller cities tend to fare well as \u2018healthy\u2019 cities, whilst crowded megalopolises such as London, New York and Tokyo offer a rich variety of retail, nightlife and cultural experiences which will always be attractive to some workers.<\/p>\n

“But in the middle there are cities such as Amsterdam, Toronto and Berlin which score well on both. These cities tend to mean shorter commutes, easier access to amenities and a better work\/life balance, and we suspect they may move up the rankings as they drive the economy in a digital age.”<\/p>\n

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Read: Multi-billion rand upgrades for OR Tambo and Cape Town International announced<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

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