The best cities in the world for living and working in IT: where should specialists go?

Introduction

A recent analysis conducted by the American think tank Expert Market identified the cities that are most convenient for living and working for professionals in the field of information technology. In compiling this ranking, the experts considered parameters such as average income, the amount of funding provided to startups, and the cost of living in various parts of the world. As a result of the study, they focused on five of the most well-known tech hubs to determine how a high concentration of IT specialists impacts the economic development of these cities.

Beijing: A Leader in the IT World

Beijing holds the leading position in the list of the best cities for living and working in the IT sector, a significant change from just a year ago when it lagged behind other contenders. This Chinese megacity is home to 56 companies from the Fortune 500 list—globally recognized organizations with high revenue levels. Beijing hosts the headquarters of giants like smartphone manufacturer Xiaomi and the search engine Baidu, widely known as the "Chinese Google." Analysts at Expert Market emphasize that startups in Beijing have unique conditions for attracting investments compared to other high-tech hubs.

Salaries and cost of living

According to official information, the salaries of IT workers in China are on average almost twice as high as in other fields. According to data from the world's largest employment portal, Glassdoor, the average income of specialists in Beijing is about $25,000 per year. It's interesting to note that the cost of living in this city is relatively affordable: according to the Numbeo service, which collects information on prices, Beijing ranks 277th among 439 cities worldwide.

Real estate prices

Statistics show that the average rent for a one-bedroom apartment in downtown Beijing is about $900 per month. In comparison, the cost of purchasing a similar apartment in this area reaches 14,800 dollars per square meter. According to the National Bureau of Statistics, in 2016, the price per square meter of real estate in Beijing was almost four times higher than the national average in China. Looking back at the situation in 2013, the difference was smaller — at that time, prices in the capital were nearly three times higher than the national average.

The main factors contributing to the increase in housing prices are related to overall economic indicators:

• Since 2010, the population of Beijing has been increasing by 4-5% annually.
• Average incomes are rising.
• The gross domestic product of the city in 2016 exceeded the level of 2011 by 1.5 times.

Berlin: The European Silicon Valley

The second place in the Expert Market ranking is held by Berlin, which is referred to as the "European Silicon Valley," as more than 500 new startups begin operations here each year. According to the Berlin Business Location Center, in 2018, the investment volume in Berlin's startups amounted to 1.07 billion euros, of which 40% was attracted from abroad. As a result, Berlin has become one of the most attractive cities for new business initiatives and technological innovations in Europe.

Berlin: the perfect place for IT specialists

In 2016, research by analysts from Expert Market confirmed that Berlin is an excellent place for living and professional activities for specialists in the field of information technology. This city is renowned for its outstanding conditions for startups.

In Germany, overall living costs are lower than in most other European countries, and rental and property prices are significantly more affordable compared to major cities like Munich, Frankfurt, or Düsseldorf.

Conclusion

Each of the mentioned cities showcases unique features and advantages for IT specialists; however, as we can see, not all factors influence the attractiveness of a location equally. In the first placeBeijingwhich, thanks to significant investments and high salaries, has become a true magnet for specialists in their field. The concentration of IT companies and startups offers amazing opportunities for career growth and personal development.

BerlinThe city that took second place successfully combines affordable housing with a high startup dynamic, making it one of the most interesting spots on the map of Europe for young professionals. In this city, affordable housing prices and an international atmosphere attract immigrants from all over the world, creating numerous new opportunities for career growth.

San FranciscoAlthough it ranks third, it remains a center of innovation, but issues with housing availability raise doubts about its attractiveness for new employees. Despite high salaries, the cost of living here is far from low, which can pose challenges for entry-level IT professionals.

AustinThe city, which ranked fourth, is gradually establishing its reputation as a women-friendly place, creating a favorable climate for business startups. The cost of living here is significantly lower, making Austin a great alternative for those who genuinely want to grow in their profession rather than just exist.

Result

In conclusion, each of these cities has its strengths and weaknesses, and the choice of the right place to live and work depends on the individual preferences and requirements of IT professionals. We are witnessing how global trends are shaping new technology hubs around the world, and the future of the IT industry promises a lot of exciting developments. Therefore, it is important to conduct research in advance and choose the place that best aligns with your career ambitions and personal priorities.