Silicon Valley will cease to be the world’s leading technology innovation centre inside four years. That’s due to the area’s rising cost of living, questions around diversity and corporate cultures, high business taxes, plus increasing scrutiny into data privacy and other Silicon Valley business practices, according to the latest KPMG global Technology Industry Innovation Survey.
So, where is set to rival California? Beijing is a good bet, as is its Chinese counterpart Shanghai. Also in the mix are Taipei and Seoul, while Berlin is a top European contender, ahead of Paris.
KPMG also finds that respondents expect the US and China to produce the most disruptive technologies (23% versus 17%). However, the US’s lead fell back a little from last year when it had an eight-percentage-point difference over China.