For the first time in KPMG's global Technology Industry Innovation
Survey, more than half of the respondents believe Silicon Valley will no
longer be the technology innovation center of the world in four years.
Despite all the positive business factors present in Silicon Valley,
an escalating cost of living, questions about diversity and corporate
cultures, high business taxes, an overmatched infrastructure, and
even increasing scrutiny into data privacy and other business practices
are contributing to the perception that Silicon Valley may not continue
to dominate tech innovation in the coming years.
Locations outside the Bay Area are now common choices for new
offices and innovation centers. Headline-grabbing announcements by
several of the tech giants helped push U.S. cities New York, Boston,
Austin, and Washington, D.C., up in the rankings in this year's survey.
New York was voted as the global city most seen as becoming the
leading technology innovation hub outside of Silicon Valley over the
next four years. Other notable risers included Taipei and Paris.
Technology Innovation Hubs 2019 1
Competitors gain on Silicon Valley
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New York, U.S.
Seoul, S. Korea
11 Berlin, Germany | 12 Hong Kong, SAR | 13 Washington, D.C., U.S. | 14 Paris, France | 15 Tel Aviv, Israel | 16 Amsterdam, Netherlan