Tel Aviv ranked 18th best high-tech city

Tel Aviv Photo: Nir Elias

A new study by the Savills real estate agency rated 30 technology centers according to 100 different variables.

A new study rates Tel Aviv in 18th place among the world's leading high-tech cities. The study conducted by the Savills real estate agency, assessed 30 cities regarded as technology centers and rated them according to 100 different variables. New York was rated the world's best city for high-tech companies and startups, followed by San Francisco in second place and London in third. Five Chinese cities appeared on the index for the first time.

Savills explained that the 30 rated cities are regional technology centers that attract many investments from venture capital companies, constitute a target for global technology companies, attract talent, and are considered active places to live and work in. The parameters taken into account in the rating include real estate costs and the cost of living in the city, the business environment, ease of opening a business, level of innovation, mobility, etc.

The report said that New York owed its top rating to the volume of investment by venture capital companies in the city, which exceeded investments in San Francisco by billions of dollars in the past three years. The city also has many people qualified to work in industry, both native born and immigrants. New York has a large number of opportunities for these people, and its many public transportation options also constituted an advantage. When Amazon announced in November that it would build offices in New York and hire 25,000 new employees, it expressed its wish for access to large and well-trained groups of employees from which it could recruit workers. Google and Apple are also considering establishing offices in the city.

Published by Globes, Israel business news - en.globes.co.il - on February 6, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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Tel Aviv Photo: Nir Elias
Tel Aviv Photo: Nir Elias
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