Savills Workforces Index 2024: Tokyo, New York, and Seoul Lead Global Talent Clusters

Savills Workforces Index 2024: Tokyo, New York, and Seoul Lead Global Talent Clusters

(IN BRIEF) Savills’ latest Workforces Index has unveiled Tokyo, New York, and Seoul as the leading hubs for top talent worldwide. The 2024 Impacts program by the renowned real estate advisor analyzed various factors, including workforce size, migration patterns, gender equality, regulatory climate, economic growth, and education, to identify emerging clusters of skilled workers and predict future hotspots for global occupiers. While traditional centers like Tokyo, New York, Los Angeles, and London remain strong, cities like Delhi, Shanghai, and Manila in emerging markets also shine. Beyond the top 10, rising talent hubs include Kigali and São Paulo. Kelcie Sellers, an associate director at Savills World Research, emphasizes that successful talent clusters offer a blend of opportunities for both workers and occupiers, with a focus on growth in white-collar and blue-collar jobs. As global occupiers prioritize securing top talent, Jeremy Bates, EMEA head of occupational markets at Savills, highlights the significance of the Workforces Index in guiding future real estate requirements and the potential need for Grade A office space in these burgeoning locations. Savills’ Impacts program for 2024, themed “Inflection,” explores the pivotal moment anticipated in global real estate investment markets and the broader impact of social, environmental, technological, and demographic changes on urban landscapes.

(PRESS RELEASE) LONDON, 31-May-2024 — /EuropaWire/ — In the latest unveiling from Savills (LON: SVS), one of the world’s leading property advisors, Tokyo, New York, and Seoul have emerged as the frontrunners in the Workforces Index 2024, shedding light on the established and burgeoning hubs for top-tier talent worldwide.

Savills’ 2024 Impacts program undertook a meticulous analysis of various metrics, including the size of the working-age population, net migration patterns, gender equality indices, labor mobility trends, regulatory frameworks, economic growth trajectories, and educational landscapes. This exhaustive examination aimed to identify where skilled professionals are gravitating, thereby illuminating potential hotspots for global occupiers with real estate requirements.

The study reveals that traditional powerhouses like Tokyo, New York, Los Angeles, and London continue to demonstrate resilience, alongside emerging locales such as Delhi, Shanghai, and Manila in evolving markets. Beyond these conventional epicenters, burgeoning talent hubs like Kigali and São Paulo are rapidly gaining momentum.

The top 10 rankings from the Savills Workforces Index 2024 are as follows:

1. Tokyo
2. New York
3. Seoul
4. Shenzhen
5. London
6. Delhi
7. Los Angeles
8. Shanghai
9. Melbourne
10. Manila

Kelcie Sellers, Associate Director in Savills’ World Research team, emphasizes, “Leading talent clusters epitomize a harmonious blend of attributes catering to both employees and occupiers. Flourishing locales exhibit significant growth in both white-collar and blue-collar employment opportunities. The landscape of global work dynamics has undergone a profound transformation over the past decade, driven by novel work methodologies, pervasive technological integration, and burgeoning industries. Our Workforces Index serves as a compass, delineating the potential hotspots of tomorrow.”

Jeremy Bates, EMEA Head of Occupational Markets at Savills, adds, “Global occupiers are increasingly cognizant of the imperative to secure top-tier talent and strategize around the geographical distribution of their future workforce. These discerning occupiers are poised to expand their presence in these burgeoning locales. Hence, the Workforces Index serves as an invaluable roadmap, delineating prospective requirements and highlighting the imperative for a sustainable pipeline of Grade A office spaces.”

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Impacts serves as Savills’ flagship global thought leadership publication and research initiative. In 2024, Impacts revolves around the overarching theme of “Inflection,” delving into the anticipated inflection point in global real estate investment markets, and more broadly, the ramifications of social, environmental, technological, and demographic shifts on urban landscapes and built environments.

Media contacts:

Kelcie Sellers
Associate Director, World Research Analyst, World Research
+44 (0) 20 3618 3524

Paul Tostevin
Director, Head of Department, World Research
+44 (0) 20 7016 3883

SOURCE: Savills