Austin is the world’s number one tech destination, according to research just released by international real estate company Savills in its Tech Cities 2017 report.
Researchers used five factors to study rank 22 cities known worldwide for their strong tech economies: tech environment, business environment, real estate costs, talent pool, and lifestyle.
Austin beat out more well-known cities with strong bases for tech companies—San Francisco, New York, and London, which follow it on the list—primarily because of its (relatively) lower real estate costs and is success in attracting talent.
Although the capital city came out on top in the overall rankings, Berlin, London, and Tokyo ranked highest in livability—an interesting measurement that Savills developed a new way to determine this year. It quantified 22 cities’ “buzz” (nightlife, entertainment, cultural offerings, and so on), “wellness” (pollution levels, quality of parks, healthcare, commuting times) and costs of living in each location to create a specific “city buzz and wellness index.”
Austin ranked in the top 10 on wellness and cost of living, but was 13th on the “buzz” list. Berlin, London, and Tokyo were the top three cities with the highest livability scores overall.
Boston and Seattle were the other U.S. cities in the list, ranking seventh and 12th overall, respectively.