Bengaluru ranks second among top tech hubs in Asia-Pacific region

Bengaluru: A research by Cushman and Wakefield ranks Bengaluru second in the Asia-Pacific region among the top tech hubs, just behind Beijing in China. Up to 115 different "tech cities" from around the world were investigated for the report, "Tech Cities: The Global Intersection of Talent and Real Estate."

In order to assess and evaluate the cities, the study took into account variables including talent, real estate, and business environment. According to the report, Bengaluru is home to India's largest Grade A office market and is one of the major contributors to the leasing of office space, accounting for an average of 25 to 30 percent of annual pan-India leasing activity from 2017 to 2021.

In Bengaluru's office market, the IT industry has contributed an average 38–40% share of yearly leasing activity (2017–2021)—a larger percentage than the 35% national average, according to the research.

It praised Bengaluru for holding a variety of sectors, including public sector industries, aerospace, biotechnology companies, educational institutions, healthcare and research institutes. In addition to highlighting the city's wealth of amenities for residents, the report mentioned Bengaluru's high ranking in the Indian government's Ease of Living Index 2020 for cities with more than one million inhabitants.

"The city is known for its greenery and public parks as well as a vibrant cultural environment consisting of museums, theatres, historical monuments and more," the statement read. In their analysis of how technology firms are distributed throughout the city, Cushman and Wakefield noted that the Outer Ring Road (ORR) and Peripheral East (Whitefield) are the two most important tech-centric marketplaces in the city.

It was found that Bengaluru's workers may take use of excellent office spaces with cutting-edge amenities in these corridors that are centred on technology and are well-known for their numerous tech parks. Before the new millennium even arrived, the city got a head start by building Whitefield's first international tech park.

According to the statement, the city benefits from a strong tech sector, competitive office space, and a talent pool that continues to draw in business from across the world.