In a new BiTV Interview, we welcome Cyril Robert, Head of Research at Savills France, to discuss the main findings of the Tech Cities report recently published by the group.
Using the Digital Nomad Essentials summary indicator, set up from the expectations of young Tech workers, Savills looked at the cities best able to offer attractive responses in this area, while guaranteeing the conditions for professional and technological development.
A first for its Tech Cities ranking, this year the group has identified 12 cities as the best "Tech Lifestyle Cities", regional technology centres recognised through the venture capital investments they attract but also offering the quality of life elements expected in a post-pandemic world. In Europe, the selected cities are Amsterdam, Barcelona, Berlin, Copenhagen, Dublin and Stockholm.
"The vision of the world of Tech and its centre of gravity is being profoundly modified," says Cyril Robert. "The rebalancing is to the benefit of Europe. Six of the twelve Tech Lifestyle Cities identified are located on the Old Continent. The latter benefits from a particularly dense urban network which, while offering a very wide range of city profiles, guarantees strong international integration as well as a first-class quality of equipment and training. In addition, Europe offers a free environment in which young creative minds in the tech industry can flourish."
If none of the French regional metropolises have been able to make it into the twelve Tech Lifestyle Cities identified by Savills, "it is largely due to French centralism, which is even true in the world of start-ups and the Tech sector", continues Cyril Robert, according to whom several major French cities "have some good cards in hand and, if played well, could make it into the league table over the next few years."
As a result of this concentration, Paris stands out among the Tech Megacities, global tech hubs expected to remain technology hotspots due to their size and ability to attract venture capital investment. Alongside Paris, Europe's only other Tech Megacity is London, the majority being Asian and, to a lesser extent, North American.
"Even since the outbreak of the pandemic, major leases have been finalised," concludes Jeremy Bates, Head of Occupational Markets EMEA at Savills. "However, many of these companies have long since adopted flexible working arrangements and some are now revising their real estate expansion strategies, while recognising the importance of a prestigious head office as a way of affirming corporate values, developing collaboration between employees and attracting talent, which remains scarce in the tech sector despite rising unemployment. Many of our Tech Cities have seen their housing costs rise recently due to the influx of many workers. The Covid-19 could slow this trend, at least in the West, by pushing people to look for residential alternatives that are more connected to green spaces and nature. This phenomenon would lead to an increase in the supply available in city centres and would make neighbourhoods previously out of reach for start-ups affordable, eventually allowing these companies, real drivers of the tech sector, and their employees to come and settle there and conquer new neighbourhoods."
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