3 cities that are emerging as the tech hub for the future

Technology is at the forefront of human evolution. The rapid advancement of industrial revolution 4.0 is resulting in many areas of the world developing at a fast pace. The

increased interconnectedness between the physical and digital worlds is enabling technological development in parts of the world where the tech industry wasn’t as present as before. The result? More and more cities are becoming the center of technological innovation and have the potential to become the tech hub in their region.

What city will be the next tech hub?

Big cities around the world are starting to implement policies and regulations that will further enable technological development. Governments are recognizing that the potential to innovate, completely automate, and advance the sector is abundant as a result of automation and optimization. Here are three cities that are becoming the tech hub in their region.

1.  Dubai, United Arab Emirates (UAE)

Dubai has in recent decades depended on three pillars for its industry: real estate, tourism, and trading. However, since the Covid pandemic started, the city was suffering from the loss of tourists, while the real-estate numbers were also lower than normal.

Furthermore, the oil reserve that belongs to Dubai has shown early signs of depletion in the last decades of the 20th century, so the government started shifting its focus to becoming a large trading hub.

The economic crisis of 2008 and the Covid pandemic have shown that Dubai’s economy was very fragile from outside influences. That is why the government decided to take a more innovative approach to develop the city’s industry. Sheikh Mohammed bin Rashid al-Maktoum, the city’s current ruler, and his administration are eager to make the city a global tech hub.

Towards the end of 2021, the government announced the introduction of new legislation that aims to keep up with the UAE’s developmental successes and represent the nation’s long-term goals. They are moving in the right direction. The city has become a hot spot for tech start-ups and is threatening to become one of the main technological centers in all of Asia.

For example, the SiGMA group is looking towards Dubai to host its 2023 Eurasia gaming conference and connect the region’s top talents from gaming to cryptocurrency. The growing tech industry potential in Dubai is attracting tech companies from all over the world to invest and be a part of the new period of economic regeneration and technological prosperity.

2.  São Paolo, Brazil

Apart from being the most populous city in Brazil, São Paolo is also the financial cornerstone of the Brazilian economy. It is one of the richest cities in the world and is a big reason why Brazil is considered one of the fastest-growing economies in the world.

So, what exactly makes São Paolo so successful? You guessed it, it is the tech companies. The headquarters of four of Brazil’s major tech businesses (99, Nubank, PagSeguro, and TOTVS) are located in São Paulo, where a thriving startup and entrepreneur ecosystem is taking advantage of the city’s sizable local market and financial heft. This ecosystem that is constantly developing enabled it to become the tech hub for all of Latin America.

There are two unique aspects that ensure that technological development continues in São Paolo.

Firstly, it is a perfect place to build a successful tech startup. There are almost 3000 active tech startups in the city, a number that is surely going to rise considering the investments that are coming in. The system is very successful, as larger tech

companies have introduced investment programs to support these startups and ensure the future of technological development in Brazil.

Secondly, it is famous for organizing tech events on a yearly basis. The biggest tech companies from all over the world annually come to São Paolo Tech Week for a wide schedule of talks, seminars, exhibits, and discussion panels. Not only does this promote the cooperation between the Brazilian tech companies with the rest of the world, but it also offers knowledge and networking to startups located in São Paolo that they can use to grow their businesses successfully.

3.  Singapore, Singapore

It should be no surprise that Singapore is on this list. Its innovation in the way they are implementing initiatives has positioned them as a global tech hub. These innovations have brought Singapore much recognition as a technological center of East Asia, as many foreign actors are actively investing in the city-state.

The main initiative that has caught global attention is the introduction of the Tech Pass. It is a work permit that was introduced in 2021 to bring in highly experienced professionals, company owners, and executives. It is an extension of the previous Tech@SG program which had the goal of assisting fast-growing businesses to evaluate the crucial skills required to grow, both in Singapore and the region.

The main idea behind the Tech Pass was to further develop the technical expertise that is rapidly increasing in Singapore. Because it is such a small ecosystem, the government decided to bring in the top outside talent with attractive benefits to help foster the technological industry.

Even though there are pretty hefty requirements to ensure that the best experts are entering their economy, Singapore has offered many career possibilities and benefits for the users of this program.

As a result, Singapore has one of the fastest-growing technology sectors in the world and is attracting more and more tech companies to invest in further technological development.

To conclude, Dubai, São Paolo, and Singapore all have the potential to become the biggest tech hub in the world. While each has shown different approaches to developing their technological sectors, they all showed positive results and are attracting more and more global attention from tech companies and organizations.