According to WHO, in 35 years, about 2/3rd of the global population would be living in the urban areas. This means the population would spike a lot in the urban areas in the coming years. If population is going to rise this way, then the demands of such a large population can only be met using cutting-edge technology. This kind of tech will not just help with the production of food but also provide opportunities for employment to these people and give them an income source. The cities with such technology will bring further capital investment in the country. This will further lead to a better economy and a higher living standard for people. According to a research by Insider Monkey, “Tech cities provide a huge benefit to their local and national economies. They help in attracting investment and skilled human resource from all over the world. Although tech cities do bring a bundle of advantages, they may also create challenges for the economies. In case of an increase in demand, the working spaces may become expensive for startups operating at a smaller scale with limited access to funds. Also, a threat of insularity may develop over time which may lead to lesser chances of external collaboration.” This article covers 15 Fastest Growing Tech Cities in the World.
Let us talk about the first tech city which is a city located in Vilnius which is best known for software engineering, fintech, cybersecurity leadership. Although this city is not a top priority for people regarding travel destinations, it is quite popular among the fintech startups or companies which are looking to expand themselves. Presently, this city has over 200 fintech businesses and 100 startups. Now, the government of Lithuania has introduced the start-up visa opportunity to boost tech companies and bring the top talent in Vilnius from the whole world. Another tech city is Tallinn which is the technology capital in Estonia. It offers a permit of e-Residency which means an individual may start a business here while not living there exactly. The reason is that about 99% public services here are easily available online and this makes it very easy to establish a tech business here. This is something that other countries still struggle with. Read more information about such tech companies here in this article 20 Fastest Growing Tech Cities in the World on Yahoo.