A research report by real estate company Colliers has found Asia’s top cities for tech companies to thrive.
The report scored 16 cities on nearly 50 criteria and shortlists the cities most likely to be tech hubs in the coming decade.
Andrew Haskins, Colliers’ Asia Head of Research, said that the researchers heavily considered “growth and availability of talent” when ranking the cities, as acquiring talent was a “key challenge” for Asian tech companies.
Likely candidates Tokyo and Taipei did not make the list due to their lack of growth potential and high operating costs.
The Indian city is set to be Asia’s fastest-growing city in the next decade, thanks to its pool of “wide and deep” talent. It scored well on top quality office space, low rent, low staff costs and the overall low cost of living, but didn’t do well on accommodation quality and infrastructure.
Like Bangalore, the strong talent pool is its main draw, on top of low personal tax and high safety and quality of life. Another benefit is the city-state’s geographic position as financial hub for APAC, especially Southeast Asia.
China’s technology capital has a strong ranking thanks to manufacturing capabilities, plentiful office spaces, flexible workspaces, and moderate staff costs. Its economy has surpassed Hong Kong, and it also benefits from being in China’s Greater Bay Area.
The Chinese capital’s strength is in the field of Artificial Intelligence, and has abundant talent. Though office renal in the central business district is the most expensive in China, staff costs are manageable.
This Indian city has high growth potential, and its advantage is the low tax and cost of living. However, it loses out greatly to Bangalore’s talent pool.