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 2.51 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 81.48% 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 more than 3,690 registered foreign businesses and attracts over 70% 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 24 public and private universities, including National Taiwan University (NTU). Eighty 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 24.2 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 24.2 degrees Celsius
People Population 2.51 million
Population Density 9,226 persons per square kilometer
Population Structure 0-14 years of age 12.3%, 15-64 years of age 65.6%, 65 years of age and above 22%.
Average Greenness 55.05 square meters/person
Education Level 82.45% has completed compulsory education, 81.54% of the workforce has completed tertiary education
Economy Workforce 1.224 million persons
Employment by Sector Agriculture/forestry/fisheries/livestock 0.25%, heavy industry 18.27%, service industry 81.48%
Unemployment Rate 3.5%
Average Disposable Household Income NT$1,444,264
CPI (May 2024) 107.39
Annual GDP(2023) NT$23,550,853 million
Top 5 Industries Wholesale/Retail, Finance & Insurance, Manufacture, Construction, and Professional Service & Science

Taipei's Outstanding Performance in International Rankings

General Competitiveness
  • The Swiss Institute of Management Development (IMD) published the 2024 Smart City Index in April 2024.  Taipei ranked 16th globally and 5th in Asia.
  • Taiwan was ranked #9 among 64 countries and 3rd in Asia on the IMD World Digital Competitiveness Ranking 2023 published by the Swiss Institute of Management Development (IMD).  5 indicators "Total R&D personnel per capita", "IT & media stock market capitalization", "Mobile broadband subscribers", "Agility of companies", "Use of big data and analytics" ranked No. 1 in the world.
  • Taiwan was ranked #20 on the IMD World Talent Ranking 2023 published by the Swiss Institute of Management Development (IMD).
  • Taipei was ranked #8 on the 2024 IMD World Competitive Yearbook, and was ranked top 1 in the economies with a population of more than 20 million for the fourth consecutive year.
  • A.T. Kearney published the Global Cities Outlook 2023. This ranking was based on the assessment of private welfare, economy, innovation, and governance. Taipei was ranked the 16th. 
  • Taipei was ranked #16 on the 2024 Smart City Index (SCI) published by the Swiss Institute of Management Development (IMD).
  • According to the report of the Global Power City Index (GPCI) 2023, Taipei holds 35th place. One item was promoted among six major dimensions. Among them, Taipei’s "Environment" was the best, taking 19th 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".
  • Taiwan was ranked #50 on the Global Talent Competitiveness Index (GTCI) published by the Europe INSEAD Business School, Portulans Institute and Human Capital Leadership Institute. 
  • 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.
  • The Singapore financial analysis website, Value Champion, first published the "Top Millennial-Friendly Cites in the Asia-Pacific" in February 2019. It scores and ranks 20 major cities in the Asia-Pacific area from three major perspectives including employment prosperity, affordability of living costs, and the quality of life, based on the data analysis of economic scholars, the world economic forum, and world health organization such as institutions. Taipei City received 6th place and surpassed Seoul, Sidney, Beijing, and Shanghai. Among them, the performances in terms of evaluation from "affordability of living costs" and "quality of life" were great and the city continuously heads towards livability and sustainability.
  • According to the 2019 Global Entrepreneurship Index (GEI), Taiwan ranked 18th among 137 countries and 4th in Asia. Its global ranking in terms of Entrepreneurial Attitude was 25th, 22nd for Entrepreneurial Ability, and 7th in terms of Entrepreneurial Aspirations. Its overall performance even led such major nearby competitors as Korea 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.
  • No.51 Global Talent Competitiveness Index 2021 / INSEAD, The Adecco Group and Tata Communications: Taipei was included in the Global Competitiveness Index (GTCI) published in January 2021 by the collaboration of the Europe INSEAD Business School, Adecco Group and Tata Communications with great performance, ranking 46th globally after Seoul, surpassing such famous Asian cities as Bangkok, Yokohama, Nagoya and so on.
Financial and Economic Competitiveness
  • The Heritage Foundation in the U.S. released the 2024 Index of Economic Freedom in March 2024.  Taiwan ranked 4th in the world and 2nd in the Asia-Pacific region.
  • 2023 Index of Economic Freedom: Taiwan rank 4th globally, and 2nd in Asia-Pacific.
  • Comparing 28 indexes of the social, environment, and economic side, Arcadis, a British consulting company, assessed 100 cities, and published the Sustainable Cities Index 2024, where Taipei was the 62nd in overall rankings and 12th in Asia, which is better than Washington, Houston, and Kuala Lumpur.
  • Financial Times 2019/20 fDi Intelligence: Asia Future Cities Ranking: Taipei ranked 7th overall.
  • UK think-tank Z/Yen’s 2024 Global Financial Centers Index 20: Taipei ranked 73rd globally, and 19th in Asia.
Daily Living and Travel Competitiveness
  • UN Sustainable Development Solutions Network (SDSN) in collaboration with Gallup and the Wellbeing Research Centre in the Oxford University, announced the World Happiness Report 2024 in March 2024. Taiwan ranked 31st globally and 2nd in the Asia-Pacific region.
  • The global database website NUMBEO released the ranking of the 2024 Global Health Care Index in February 2024. Taipei ranked first in the world among 217 cities with a score of 86.3.
  • The global database website NUMBEO released the ranking of the 2024 Safety Index by City in February 2024. Taipei ranked second in the world among 199 cities with a score of 84.3.
  • Vancouver-based branding advisor Resonance Consultancy has published its Top 100 Best Cities in the World for 2024 Ranking in November 2023. The rating indicators include safety, culture, transportation, education, and economy. Taipei City ranked 42nd overall and 6th in Asia. Taipei City ranked 9th in restaurants and food, and 12th in shopping.
  • Time Out, a well-known British magazine, revealed The 40 coolest neighborhoods in the world in November2023, and Zhongshan District in Taipei City ranked 34th for its rich entertainment, diverse food and various styles of architecture.
  • According to the ranking published by the well-known global magazine CEOWorld, which focuses on national health care systems, Taiwan was ranked top 1.
  • According to Liveability ranking and overview 2022 published by The Economist Intelligence Unit, Taipei Taiwan ranked at 53rd globally. 
  • 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 five“The Best and Worst Places for Expats in 2023”. This year, over 12,000 expats responded to a survey on 53 countries from the perspective of quality of life, employment conditions, ease of settling in, personal finance, and the basic needs of expats. According to the report, Taiwan was ranked #5, #2 for quality of life, and top 1 in terms of healthcare.
  • According to the 2022 city safety report of the "The Economist Intelligence Unit," Taipei stands 53th with regard to assessment based on digital, health, individual, and infrastructure indicators.
  • The biggest expat website, InterNations, announced its "Expat Insider City Ranking: The best and worst cities for expats in 2022,” 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 2024 published by QS, Taipei was ranked 33rd in the world. 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 Quality of Living City Ranking 2023. The rating indicators include political and social environment, economy, and culture, with a total of ten major categories and 39 indicators. Taipei City ranked 82nd overall and 8th in Asia, defeating such major cities as Kuala, Lumpur, Busang, Shanghai, and Bangkok.
  • MasterCard Worldwide Asia Pacific Destinations Index 2019: Taipei attracted up to 7.4 million international tourists. Taipei City ranked the 14th overall and the 6th 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. Taipei was included in the Global Competitiveness Index(GTCI) published in January 2019 for the first time with great performance, ranking 15th globally and just 2nd in Asia after Seoul, surpassing such famous Asian cities as Singapore, Tokyo, and Hong Kong.
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 200,000 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.