Melbourne, Santiago & Buenos Aires have the talent to become future tech capitals

09 March 2017

Melbourne, Santiago and Buenos Aires could be future tech capitals due to a strong ratio of young people to old and high proportions of skilled university students, according to international real estate advisor Savills.

Savills awarded the top three places in its Tech Cities 2017 overall rankings to Austin, San Francisco and New York, but says that Melbourne, Santiago and Buenos Aires have the potential to grow as key hubs for tech companies on the basis of indicators examining future talent pools.

Melbourne, Santiago and Buenos Aires are the only cities that appear within the top seven Tech Cities on two key talent pool metrics: having large student populations at universities or technical institutions, and having a high ratio of ‘millennials’ (those born between 1980 and 2000) to ‘baby boomers’ (born 1946 – 1964), says Savills.

Buenos Aires has the highest proportion of students at quality universities or technical institutions of the 22 Tech Cities Savills examined. It also appears in fifth place for having a high ratio of ‘milllennials’ to ‘boomers’. Melbourne appears in second place for university students and seventh for ‘millennials’, says Savills, while Santiago is in sixth place for both factors.

See the graphs showing the Tech Cities talent indicators here.  

Nicky Wightman, director, Savills Worldwide Occupier Services, says: “Having a skilled, young entrepreneurial population is necessary for any city looking to foster a dynamic start-up scene. But, initially at least, these start-ups need local populaces ready to embrace and consume their new services and products, which is why having a high millennial to baby boomer ratio is also important. The cities that balance both are likely to see strong tech growth and may well move up our overall city rankings in the future.”

Paul Tostevin, associate director, Savills World Research, adds: “Having access to a strong talent pool is a key measure of a good tech city. The challenge, however, for Melbourne, Santiago and Buenos Aires is to capitalise on this potential and ensure start-ups have access to angel investors and higher quality broadband infrastructure to help them expand. This will help propel them up the overall Savills Tech Cities rankings.”

 
 

General Enquiries

 

Key Contacts

Nicky Wightman

Nicky Wightman

Director
Worldwide Occupier Services

Savills Cambridge

+44 (0) 1223 347 087

 

Paul Tostevin

Paul Tostevin

Associate Director
World Research

Savills Margaret Street

+44 (0) 20 7016 3883