New York has just edged out San Francisco as the “world’s top tech city” while Singapore dominated in Asia, according to the latest rankings by Savills Research in their 2019 ‘Tech Cities in Motion’ report.

While Singapore ranks sixth worldwide, squeezed between Boston (fifth) and Los Angeles (sixth), Melbourne came in at a respectable 22 - one spot ahead of Seoul in South Korea.

The index measures 30 cities from around the world against 100 individual metrics that establish which cities are the most successful homes for tech and start-up companies.

According to Savills Research, the Savills Tech Cities index measures what makes a successful Tech City. The assessment for each city comprises of over 100 individual metrics, ranging from the number of days needed to start a business

through to the cost of a flat white coffee. These metrics are grouped into six categories: business environment, tech environment, city buzz & wellness, talent pool, real estate costs, and mobility.

Each category is weighted to reflect its importance to the tech sector says the research company.

Chinese cities now account for a higher share of venture capital investment than their US counterparts. Beijing, in 17th place, recorded an average USD34 billion of venture capital per annum in the last three years, volumes higher than New York and San Francisco.

The Top 30 cities in Savills Tech Cities index are:

  1. New York
  2. San Francisco
  3. London
  4. Amsterdam
  5. Boston
  6. Singapore
  7. Los Angeles
  8. Austin
  9. Stockholm
  10. Copenhagen
  11. Toronto
  12. Seattle
  13. Tokyo
  14. Paris
  15. Shanghai
  16. Berlin
  17. Beijing
  18. Tel Aviv
  19. Dublin
  20. Hong Kong
  21. Barcelona
  22. Melbourne
  23. Seoul
  24. Shenzhen
  25. Hangzhou
  26. Chengdu
  27. Santiago
  28. Buenos Aires
  29. Bengaluru
  30. Cape Town