New York could overtake Silicon Valley as a tech hub by 2023

A survey across 12 countries found that tech firms are increasingly looking to New York, Beijing, London and Tokyo

New York /
Mar.March 06, 2019 12:30 PM

Silicon Valley (bottom) and New York City (top) (Credit: Wikipedia and Pixabay)

Amazon may have side-stepped New York, but there’s still enough demand for the city to transform into a tech hub.

A new study shows that New York, Beijing, Tokyo and London are increasingly being looked at as places for tech innovation, and could surpass demand in Silicon Valley by 2023, according to the Wall Street Journal.

New York ranked No. 1 on a ranking of cities next in line to lead tech innovation, which was based off a KPMG survey of 740 tech industry leaders in a dozen countries. Beijing, Tokyo and London followed, and Boston and Austin, Texas, made the top 10.

The cities have attracted investment from tech companies in recent years and the rise of cloud computing has reduced the need for tech innovation to stem from a single location. Almost 60 percent of respondents said it was “likely” or “very likely” that Silicon Valley will lose its title as a global technology center by 2023.

“Geography is less important in an always-on, constantly connected world,” Jack Clare, chief information and strategy officer at Dunkin’ Brands Group, told the Journal.

The survey also reportedly found that 23 percent of respondents believed the U.S. has the largest impact globally on technology, a reduction from 34 percent last year. China ranked second with 17 percent, a drop from 26 percent over the past year. [WSJ] — David Jeans 


Related Articles

arrow_forward_ios
Eric Gordon
Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Big Tech locations in NYC
MAP: Here’s a look at all the Big Tech locations in NYC
MAP: Here’s a look at all the Big Tech locations in NYC
What will proptech look like in 2019 and beyond?
What will proptech look like in 2019 and beyond?
What will proptech look like in 2019 and beyond?
Matterport CEO RJ Pittman (Getty)
Real estate VR tech firm Matterport to go public via SPAC
Real estate VR tech firm Matterport to go public via SPAC
BentallGreenOak founder Sonny Kalsi and 2300 Linden Boulevard in Brooklyn (Photos via BentallGreenOak; Google Maps)
Amazon warehouse in Brooklyn sells for $46M
Amazon warehouse in Brooklyn sells for $46M
Jeff Bezos (Getty, Amazon/Illustration by Alexis Manrodt for The Real Deal)
Amazon’s real estate footprint ballooned in 2020
Amazon’s real estate footprint ballooned in 2020
Amazon founder Jeff Bezos with his Beverly Hills estate, 5 Manhattan West and 212 Fifth Avenue (Photos via Getty; Pinterest; Wikipedia Commons; City Realty)
Jeff Bezos, who turned real estate upside down, quits
Jeff Bezos, who turned real estate upside down, quits
Renderings of Amazon HQ2 and Amazon CEO Jeff Bezos (Photos via NBBJ/Getty)
Amazon unveils woodsy plans for HQ2
Amazon unveils woodsy plans for HQ2
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...