London is the third best city for tech in the world

Keiligh Baker's picture

A new study has revealed that London is the third best place on the planet for technology after New York and San Francisco.

New York ranked first in an index measuring 30 global tech-heavy cities analyzed by Savills Plc, with San Francisco in second place and London third.

New York pulled ahead thanks to its volume of venture capital cash, large pool of talent -- both homegrown and people attracted to the city -- and the opportunities that exist for them.

“So much of it is talent,” Paul Tostevin, author of the report, said from London. “New York can keep generating its own talent and, I think more importantly, recruiting it from around the world.”

“Scale is something New York can offer when you’re employing so many people, so there’s a real advantage there for large tech companies,” said Tostevin, associate director of world research for the brokerage. “There’s that work-and-life balance that’s so important, and that New York can offer that is quite advantageous.”

The Savills index scores cities on the costs of living and doing business, investment opportunities, real estate prices and access to transit, among other things.