February 25, 2019
Amazon campus or no Amazon campus, New York’s status as a tech hub has just earned another global plaudit. KPMG’s annual survey of tech executives implies that the city may supplant Silicon Valley as the world’s technology innovation center.
Fifty-eight percent of survey respondents believe Silicon Valley will lose the top spot among the world’s tech hubs within four years. Although the survey didn’t specifically ask respondents to identify Silicon Valley’s successor, tech industry leaders tabbed New York to become the top tech hub in addition to Silicon Valley, KPMG says.
“The belief that Silicon Valley will be displaced as the leading hub underscores the continuing decentralization of technology innovation,” said KPMG’s Tim Zanni. “Several much-discussed factors ranging from the cost-of-living to an overmatched infrastructure, to questions about corporate culture are contributing to the perception that Silicon Valley may not continue to dominate tech innovation in the coming years.”
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