As per Savills Tech Cities 2017 rankings, Bengaluru has been adjudged as the most affordable city having the lowest cost of living out of 22 tech cities across the world.
Assessment of Cost of Living in Bengaluru:
- The mainstream weekly residential rent in Bengaluru is $236 which is much cheaper as compared to all 22 tech cities average of $368.
- Established tech firm office rent in Bengaluru is $12 per square feet as compared to all 22 tech cities average of $53 per square feet.
- One way ticket on local transport costs $0.31 in Bengaluru as compared all 22 tech cities average of $2.13.
In Savills Tech Cities 2017, the tech cities have been ranked in following five categories:
- Business Environment
- Tech Environment
- City Buzz and Wellness
- Talent Pool
- Real Estate Cost
It is to be noted that cost of living does not include the property cost. Cost of living is one of the parameter under the category of City Buzz and Wellness.
Bengaluru’s Rankings in Categories:
- Business Environment: This category evaluates investment avenues and established R&D facilities. Bengaluru ranked 19th out of 22 cities. New York ranked first in this category
- Tech Environment: This category evaluates size and value of tech infrastructure. Bengaluru ranked 21st. San Francisco ranked first in this category
- City Buzz and Wellness: This category evaluates urban environment, pollution levels, healthcare facilities, civic amenities, equality in pay, night life, entertainment avenues and cost of living. Despite topping on the factor of cost of living, Bengaluru ranked lowest at 22nd in this category. Berlin ranked first in this category.
- Talent Pool: This category evaluates immigration and talent attractiveness and higher education opportunities. Bengaluru ranked 17th. Boston ranked first in this category.
- Real Estate Cost: Bengaluru has ranked 5th. Buenos Aires is the least expensive whereas Tokyo is the most expensive for owning Real Estate.
Overall Ranking of 20 Tech Cities:
|Overall Rank||Tech City||Overall Rank||Tech City|
|1||Austin, US||11||Stockholm, Sweden|
|2||San Francisco, US||12||Dublin, Ireland|
|3||New York, US||13||Seattle, US|
|4||London, UK||14||Melbourne, Australia|
|5||Amsterdam, Netherlands||15||Tel Aviv, Israel|
|6||Toronto, Canada||16||Seoul, South Korea|
|7||Copenhagen, Denmark||17||Hong Kong|
|9||Berlin, Germany||19||Santiago, Chile|