5 Fastest Growing Tech Cities in the World

In this article we are going to list the 5 fastest growing tech cities in the world. For a detailed coverage of this topic and a more comprehensive look, please head on over to the 20 fastest growing tech cities in the world.

5. Paris

The tech economy in Paris grew by 2.5 times from $1.3 billion to $3.3 billion in 2016 to 2020, respectively. Therefore, making it one of the fastest-growing tech cities in the world. Initiatives undertaken by the government were primarily the reason for its growth. The startups and tech businesses are finding these initiatives very fruitful, as a result, they continue to choose this destination over others.

4. Berlin

Berlin is not just a beautiful city, that almost everyone has on its travel bucket list, but also it possesses the highest rank in venture capital investment throughout Europe. The city is home to many automobile manufacturers, which were once the pride of Europe. Hence the reason why most tech companies that are mostly related to the automotive industry are settling their businesses in this city.

3. Munich

Munich’s tech industry grew by 2.7 times from $0.3 billion to $0.7 billion from the years 2016 to 2020, respectively. Its strong innovation culture led to it becoming one of the fastest-growing tech economies. The city has wide infrastructure facilities and a mix of local talent available. The curriculum taught at local universities is very supportive of the industry and thus increases the attractiveness of the city in the eyes of the tech businesses.

2. London

Despite the Brexit and the pandemic, London’s tech economy grew by 3 times, rising from $3.5 billion to $10.5 billion. The UK capital has now been labelled as the tech hub of Europe surpassing Munich, Berlin, and Paris. London serves as the gateway to Europe, which is partly the reason why tech companies want to settle here. In addition, London attracts the top talents from all over the world, especially in the field of IT. Hence a wide talent pool is available for tech companies.

1. Bengaluru

Bengaluru tops the list of the 20 fastest growing tech cities in the world. Also known as the Silicon Valley of India, Bengaluru has emerged as the world’s fastest-growing mature tech ecosystem since 2016. Investment has grown 5.4 times from $1.3 billion in 2016 to $7.2 billion in 2020. The city has also been ranked 6th for the world’s tech venture capitalist investments. Bengaluru has successfully created a culture of entrepreneurship and innovation, therefore attracting tech investment and businesses to this city.

See also: 10 tech jobs that pay over $200k a year and 11 worst tech mergers and acquisitions ever