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According to a report by Colliers International, listing the top locations in Asia for the technology sector, Singapore comes in 2nd place, just after Bengaluru, India in first place, and Shenzhen, China following Singapore in the 3rd place.
Here’s the full list of top locations in Asia for the technology sector:
Scoring a total of 63%, Singapore tops the chart for talent and employment criteria, and human aspirational measures. The second place ranking reflects the city’s high score on socio-economic factors, due largely to its strong reputation as a source of talent, as well as a high position on aspirational measures such as personal tax rate, safety and lining quality.
In terms of property factors however, Singapore did not score well on office accommodation and received average score in employer costs.
“Looking ahead, Singapore should continue to benefit from its position as the natural financial and communications hub of South East Asia, and from the government-supported transition to the so-called Fourth Industrial Revolution,” the study researchers wrote.
The research, based 16 cities in developed and emerging markets across Asia, examines nearly 50 criteria across a spectrum of socio-economic, property and human factors to determine the viability of these cities as tech hubs as a workability index for the tech sector.
Head of research for Singapore at Colliers International, Tricia Song, said: “As Singapore continues to transform into an innovation-led, high-tech economy, it will remain a compelling business destination for global technology firms. We believe it presents lots of upside potential for the real estate sector, particularly the office space and high-specification industrial space, such as data centres.”