By Muhammad Zeeshan
TWA
London has maintained its position as the world’s leading tech hub, according to the latest Z/Yen Smart Centres Index, despite growing competition from New York. The index ranks 77 global commercial centers based on their ability to innovate and implement technology. London has held the top spot since surpassing New York in May, but the gap between the two cities has now narrowed, with New York regaining second place after briefly falling behind Zurich.
In the latest edition, the score difference between London and New York shrank by six points, as London’s score dropped by seven. San Francisco rose four places to secure the fourth position, just behind Zurich, while Oxford and Cambridge saw slight declines in their rankings.
The UK government has placed its tech sector at the forefront of efforts to attract international investment and support startups, with significant commitments from US companies like CyrusOne, Cloud HQ, and ServiceNow, who pledged £6.3 billion to the UK’s data center industry.
Jersey was the only location in the top 20 to see an increase in its score, as the average rating across the index fell by 1.07%. Experts attribute this decline in confidence to ongoing geopolitical tensions and economic instability. Michael Mainelli, former Lord Mayor of the City of London and chair of Z/Yen, noted that strengths in AI, digital, and computing skills will play a crucial role in shaping the future of global tech centers.
