Daily Management Review

The top ten: The world's best IT-cities


04/05/2017


Real estate agency Savills named the world's largest technology centers. The agency evaluated 22 cities in different countries of the world. The rating was compiled on the basis of over 100 parameters - from the number of days needed to start a business to the cost of a cup of coffee. Here are top ten cities most suitable for IT business.



10. Singapore

Population: 3.9 million
GDP per capita: $ 52,965
Average cost of office rent per week (sq. ft.): $ 115
Average cost of renting residential property per week: $ 1,450
Cost of coffee with milk: $ 3.67
Number of startups per 1 thousand people: 0.5
Average commute time for IT staff: 35 minutes
Public transport fares: $ 1.33
Annual passenger traffic in the city's airports: 55.4 million

Singapore is rapidly becoming a global center of information technology, especially after the city started to develop and widely use digital technologies in city management. In particular, this concerns information on traffic. The developed financial sector, as well as Singapore’s reputation of a city with a high business culture, also contribute to the fact that it is one of the ten world IT centers.

9. Berlin, Germany

Population: 3.6 million
GDP per capita: $ 37,328
Average cost of office rent per week (sq. ft.): $ 25
Average cost of renting residential property per week: $ 503
Cost of coffee with milk: $ 3.30
Number of startups per 1 thousand people: 0.5
Average commute time for IT staff: 23 minutes
Public transport fares: $ 2.98
Annual passenger traffic in the city's airports: 29.5 million

Berlin is traditionally considered the capital of European art and nightlife. However, in recent years, the relatively low cost of real estate and life, as well as development of the IT sector, have contributed to the fact that the city has become one of the world's leading technology centers.

8. Boston, USA

Population: 667 000
GDP per capita: $ 87,308
Average cost of office rent per week (sq. ft.): $ 72
Average cost of renting residential property per week: $ 1,400
Cost of coffee with milk: $ 3.37
Number of startups per thousand people: 5.8
Average commute time for IT staff: 35 minutes
Public transport fares: $ 2.50
Annual passenger traffic in the city's airports: 39.1 million

California has gained fame as a world center for technology development. However, the East Coast in some relation is even better. The region’s traditional residents are biotechnology and pharmaceuticals companies. Yet, areas as high-tech innovations, electronic commerce and electronic games are also developing quite fast.

7. Copenhagen, Denmark

Population: 591 thousand.
GDP per capita: $ 64 692
Average cost of office rent per week (sq. ft.): $ 17
Average cost of renting residential property per week: $ 982
Cost of coffee with milk: $ 4.33
Number of startups per 1 thousand people: 0.8
Average commute time for IT staff: 37 minutes
Public transport fares: $ 3.56
Annual passenger traffic in the city's airports: 29.2 million

Technology is a new black in Copenhagen, and the new trend has already brought several successful results. The city received the maximum rating in the welfare category.

6. Amsterdam, The Netherlands

Population: 840 thousand
GDP per capita: $ 69,752
Average cost of office rent per week (sq. ft.): $ 34
Average cost of renting residential property per week: $ 1,315
Cost of coffee with milk: $ 2.47
Number of start-ups per 1,000 people: 1,3
Average commute time for IT staff: 29 minutes
Public transport fares: $ 3.20
Annual passenger traffic in the city's airports: 58.3 million

Traditionally, Amsterdam was considered a bohemian, creative city, but technology plays a significant role here. 90% of the city's population speak English and Dutch. This is one of the leading European IT-centers.

5. Toronto, Canada

Population: 2.8 million
GDP per capita: $ 44,907
Average cost of office rent per week (sq. ft.): $ 25
Average cost of renting residential property per week: $ 968
Cost of coffee with milk: $ 2,48
Number of start-ups per 1,000 people: 1.1
Average commute time for IT staff: 40 minutes
Public transport fares: $ 2.29
Annual passenger traffic in the city's airports: 43.4 million

At the moment, about 3 thousand tech companies are successfully working in the city. In addition, Toronto was praised for the quality of life since it is one of the world’s the best cities in terms of standard of living, and one of the leading technology centers. 

4. London, United Kingdom

Population: 8.7 million
GDP per capita: $ 63,739
Average cost of renting an office per week (square ft.): $ 94
Average cost of renting residential property per week: $ 1 981
Cost of coffee with milk: $ 3.32
Number of startups per 1 thousand people: 1
Average commute time for IT staff: 29 minutes
Public transport fares: $ 3.32
Annual passenger traffic in the city's airports: 153.5 million

London is the world’s banking center. Therefore, there is nothing surprising in the fact that many fintech startups choose to work here. A high level of education in universities and proximity to the largest European airports have also contribute to London’s current position in the IT rating.

3. New York, USA

Population: 8.5 million
GDP per capita: $ 83,470
Average cost of office rent per week (sq. ft.): $ 81
Average cost of renting residential property per week: $ 1,482
Cost of coffee with milk: $ 3.60
Number of startups per 1,000 people: 1,8
Average commute time for IT staff: 29 minutes
Public transport fares: $ 2.75
Annual passenger traffic in the city's airports: 126.7 million

New York boasts a number of advantages for the financial, trade and technological sectors. There are universally recognized universities, high culture of doing business, as well as links with many countries of the world - all this attracts multinational corporations and private entrepreneurs.

2. San Francisco, USA

Population: 865 thousand.
GDP per capita: $ 97,856
Average cost of office rent per week (sq. ft.): $ 71
Cost of coffee with milk: $ 3.75
Number of start-ups per thousand people: 26.3
Average commute time for IT staff: 33 minutes
Public transport fares: $ 2.25
Annual passenger traffic in the city's airports: 71 million

San Francisco has a traditional reputation as a global IT center, and does not need additional details. Twitter, Airbnb, and Uber are just a few success stories that happened in the city.

1. Austin, USA

Population: 932 thousand.
GDP per capita: $ 62,376
Average cost of office rent per week (sq. ft.): $ 54
Average cost of renting residential property per week: $ 1,002
Cost of coffee with milk: $ 3.50
Number of start-ups per thousand people: 2.7
Average commute time for IT staff: 16 minutes
Public transport fares: $ 1.75
Annual passenger traffic in the city's airports: 11.9 million

Austin has become the main IT-center in the world thanks to low taxes, favorable prices for real estate, developed business culture and presence of companies such as IBM, Dell and AMD.

source: savills.co.uk






Science & Technology

With China Set To Dominate, 1 Billion Could Be Using 5G By 2023

Deutsche Telekom unveils next gen 5G mobile antennas in Europe

Diamonds are now the new gold

Expert Body Says Driving In A Driverless Car In An Inebriated Condition Or On Drugs Should Be Legalized

SEC’s EDGAR database vulnerable to cyber threats

Research Says The Risk Of Severe Turbulence On Planes Will Increase Due To Climate Change

Barclays and CLS Group aim to replace SWIFT with blockchain

Designing Of Cars Being Done With Hologram Goggles At Ford

The Already Surging Cyber Attacks Are Set To Rise Even Further, Says A Study

Chinese to equip smartphones with OLED displays

World Politics

World & Politics

Scholar Says Political Appointees Not As Important As Financial Ones In China For The Economy

An Expected Change In Brussels Could Be Crucial For The Euro Zone

Destroying People Who Wouldn't Help One Of His Bankrupt Businesses Was All Trump Talked About When He Met Him In 1990s: Branson

Russia Is Worried About America’s Unpredictability

No oil contracts with Iraqi Kurdistan: Iraq’s oil ministry

Donald Trump lost $ 600 million during his presidency

Britain puts its weight behind Europe in the battle between Boeing and Bombardier

EU hopes to keep the Iran nuclear deal afloat