​Bengaluru, July 2023: Bengaluru has further cemented its reputation as India’s technology capital after being ranked second only to Beijing among top tech hubs in the Asia Pacific region, according to a global study of 115 cities. The report underscores the city’s growing clout in technology, office real estate and talent, placing it ahead of several established hubs across the region.​

What the study found

• The Cushman & Wakefield report, titled “Tech Cities: The Global Intersection of Talent and Real Estate”, placed Beijing first and Bengaluru second in its Asia Pacific tech hub rankings.​
• Three other Indian cities – Chennai, Delhi and Hyderabad – also featured in the APAC list, while Mumbai and Pune secured eighth and ninth positions among 14 tracked cities in the region.​

Why Bengaluru ranked so high

• The study highlighted Bengaluru as home to India’s largest Grade A office market and one of the biggest contributors to pan-India office leasing, with an average 25–30% share of annual leasing between 2017 and 2021.​
• The tech sector alone accounted for an average 38–40% of annual leasing activity in the city during 2017–2021, higher than the national average of around 35%, signalling the depth of its technology occupier base.​

Diverse ecosystem and quality of life

• The report praised Bengaluru’s diversified economic base spanning defence organisations, public sector units, aerospace, biotechnology, education, healthcare and research institutions, alongside IT and startups.​
• It also noted that Bengaluru topped the Government of India’s Ease of Living Index 2020 in the million-plus population category, citing its greenery, public parks and vibrant cultural environment of museums, theatres and historical monuments.​

Impact on commercial real estate and tech corridors

• Cushman & Wakefield identified Outer Ring Road (ORR) and the Peripheral East (Whitefield) as Bengaluru’s most favourable micro-markets for tech real estate, driven by multiple tech parks and high-quality office stock.​
• The report concluded that the city’s strong tech ecosystem, competitive office rentals and abundant talent pool would continue to attract global occupiers, reinforcing Bengaluru’s position as a leading Asia Pacific tech hub after Beijing.​

  Asia Pacific tech hubs