taipeiheighlights

Taipei Heighlights

Taipei is the capital city of Taiwan, and it is also Taiwan’s political, economic, and cultural center. The city of Taipei currently has 2.66 million residents, and it forms the most important metropolitan region in northern Taiwan, along with the neighboring cities of New Taipei City and Keelung. Due to its advantageous geographical location, safe and comfortable living environment, as well as comprehensive infrastructure such as transportation, information, communications, medical, and education systems, the city attracts many multi-national corporations, international financial institutions, foreign consulates and business organizations to set up bases here.

The service industry makes up 75% of the city's industry, with the remainder shared by the manufacturing, agriculture, forestry, fishery, and livestock sectors. Due to the concentration of financial capital, talent, technology, excellent economic activity, and professional services, the city's development is focused on knowledge innovation. Currently the city's major development fields include the ICT (hardware and software), biotechnology, general merchandising (wholesale/retail), financial services, and MICE industries. Taipei has nearly 3,500 registered foreign businesses and attracts over 50% of the total foreign investment in Taiwan. The city’s R&D centers and operational headquarters are the best in Taiwan, among which the Neihu Technology Park and the Nangang Software Park are national industry clusters. Taipei has a large number of academic research institutes, such as Academia Sinica, and 29 public and private universities, including National Taiwan University (NTU). Sixty percent of the Taipei workforce has higher education backgrounds, and top professional talent continues to drive industrial innovation and entrepreneurship.

Taipei has a pleasant climate with an annual average temperature of 23 degrees Celsius. It has a convenient transportation network and within an hour, you can travel to anywhere in the city, including scenic Yangminshan Mountain and the coast of Danshui. In addition, the historical background of the city has produced a diverse cultural milieu with high cultural tolerance and an open-minded populace. The city is highly regarded by both locals and foreigners for its business development, quality of living, and education and career prospects.

Taipei's Investment Environment
 
Nature Geographical Location North Taiwan, 25°02′N 121°38′E
Surface Area 271.8 square km
Climate Tropical, monsoon climate, average annual temperature 23.8 degrees Celsius
People Population 2.66 million
Population Density 9,831 persons per square kilometer
Population Structure 0-14 years of age 13.7%, 15-64 years of age 64.5%, 65 years of age and above 16.9%.
Average Greenness 5.3 square meters/person
Education Level 99% has completed compulsory education, 66% of the workforce has completed tertiary education
Economy Workforce 1,334,000 persons
Employment by Sector Agriculture/forestry/fisheries/livestock 0.3%, heavy industry 19.2%, service industry 80.5%
Unemployment Rate 3.7%
Average Disposable Household Income NT$1,314,031
CPI (Dec.2018) 101.16
Annual GDP(2018) NT$13,219,200,000,000
Top 5 Industries Wholesale/Retail, Manufacture, Construction, Professional Service & Science and Finance & Insurance

Taipei's Outstanding Performance in International Rankings

General Competitiveness
  • According to the report of the Global Power City Index (GPCI), Taipei holds 35th place. Four items were promoted among six major dimensions. Among them, Taipei’s "Environment" was the best, taking 14th place. Taipei City Government has actively established an "innovative ecology system" to develop innovative energy and continuously and stably promote global power based on the core value of "sustainable living".
  • According to the 2018 Global Competitiveness Report published by the World Economic Forum (WEF), Taiwan’s ranking was pushed forward to 13. Of the various factors, its “Innovation Ability” was first among Asian countries and 4th worldwide.
  • According to the 2017 Global Entrepreneurship Index (GEI), Taiwan ranked 18th among 137 countries and 3rd in Asia. Its global ranking in terms of Entrepreneurial Attitude was 22nd, 24th for Entrepreneurial Ability, and 11th in terms of Entrepreneurial Aspirations. Its overall performance even led such major nearby competitors as Korea, Singapore, Japan, and China.
  • Business Insider: The most high-tech cities in the world 2017: Taipei was the highest rated city in Asia and ranked the 5th globally in 2017. It's higher than Seoul, Tokyo and Singapore.
Financial and Economic Competitiveness
  • 2019 Index of Economic Freedom: Taiwan rank 10th globally, and 5th in Asia-Pacific.
  • In November 2018, the British consulting company Arcadis announced the "Sustainable Cities Index (SCI) report," which ranks 100 cities worldwide from the three major dimensions of People, Planet, and Profit based on the UN SDGs by analyzing whether the city development satisfies the needs of citizens and is available for sustainability and future development. Taipei City has leapt to 24th place worldwide and 4th place in Asia, defeating such Asian cities as Tokyo, Kuala Lumper, and Beijing.
  • Financial Times 2017/18 fDi Intelligence: Asia Future Cities Ranking: Taipei ranked 6th overall, 5th for economic growth potential, and 6th for friendliness of business environment.
  • UK think-tank Z/Yen’s 2017 Global Financial Centers Index 22: Taipei ranked 27th globally, and 11th in Asia.
Daily Living and Travel Competitiveness
  • The expat website, InterNations, in Munich, Germany published an annual report known as the "Expat Insider”. In this report, Taiwan was rated as the top “Ranking of 2019’s Best Country for Living and Employment”. This year, over 20,000 expats responded to a survey on 64 countries from the perspective of quality of life, employment conditions, ease of settling in, cost of living, and family life. As a result of the survey, Taiwan reclaimed its top rank as seen in 2016. The reasons for Taiwan’s popularity include good medical care, quality of life, and employment opportunities.
  • According to the 2019 city safety report of the "The Economist Intelligence Unit," Taipei stands 22th with regard to assessment based on digital, health, individual, and infrastructure indicators and is ranked as high as 10th globally in health and safety items.
  • The biggest expat website, InterNations, announced its "Expat Insider City Ranking: The best and worst cities for expats in 2018,” with Taipei ranking straight at the top in the areas of solid medical care, convenient transportation, friendly personnel exchange, energetic business prospects, and affordable living costs.
  • According to QS Best Student Cities 2018 published by QS, Taipei was ranked 20th in the world and 6th in Asia. With a climbing international reputation, convenient and diversified living, and affordable living costs, students highly evaluate Taipei City and are keen to stay for employment after graduating.
  • MERCER has announced its 2018 Quality of Living City Ranking. The rating indicators include political and social environment, economy, and culture, with a total of ten major categories and 39 indicators. Taipei City ranked 84th overall and 9th in Asia, defeating such major cities in China as Shanghai, Beijing, and Guangzhou.
  • MasterCard Worldwide Asia Pacific Destinations Index 2017: Taipei attracted up to 7.4 million international tourists and ranked the 10th in Asia.
Comprehensive Transport Network
Taipei has its own Songshan Airport, and is also situated near Taiwan Taoyuan International Airport. There are port facilities located in both Taipei and Keelung, providing the city with both sea and air transportation advantages. From Taipei, you can quickly reach many other major Asia-Pacific cities. Shanghai, Seoul, Tokyo, Hong Kong, Bangkok, and Singapore are all within four hours flight time. In terms of sea freight, Taipei is near major Asia-Pacific ports such as Hong Kong, Manila, Shanghai, Tokyo, and Singapore, facilitating the rapid transit of goods to markets around the world.
Knowledge and Talent
Taiwan talents’ ability to learn is strong. They are also efficient and responsible, attracting companies from around the world to set up offices here. Leading domestic research institute Academia Sinica; 29 universities and technology institutes; and American, European, Japanese, and Korean international schools all drive innovation and entrepreneurial spirit in Taipei. In addition, major research organizations such as the Industrial Technology Research Institute, the Institute for Information Industry, Chung-Hua Institution for Economic Research, and Taiwan Institute of Economic Research ensure that research momentum remains at full speed.
Law and Democracy
Taiwan operates under the rule of law, and has a stable economic structure. Central and local government systems protect the human rights and freedom of the people. Taiwan's investment regulations are clear and intellectual property laws are in line with international norms, ensuring that patents and intellectual property are fully protected. IP licensing processes are simple and effective. The country boasts a comprehensive judicial system, and a special intellectual property court has been established. In addition, many professional legal, financial, accountancy, and investment organizations have established headquarters and branch offices in Taipei, effectively boosting business competitiveness.
No Language Barrier
Taipei is a highly globalized city. More and more Taipei citizens are learning foreign languages such as English, Japanese, Korean, and Southeast Asian languages. Bilingual or multi-lingual guidance and signage are offered in public transportation services, street maps, major organizations and information centers, which eliminate the language barrier for foreigners to do business or travel.
Diverse Professional Talent
The two major industry clusters of Taipei, Neihu Technology Park and Nangang Software Park, gather 160,000 employees working in the fields of ICT software and hardware, biotechnology, digital content, and culture and creativity. In order to facilitate international talent and technology exchanges, the government has amended visa and residency regulations for foreigners so that professional talent and entrepreneurs from abroad can obtain residency visas more easily, thus increasing opportunities for long-term exchanges.