Taipei City is located in the northern part of Taiwan, and is the political, economic, and cultural development center of the island. It has 12 administrative districts and, together with the neighboring New Taipei City and Keelung City, makes up the Greater Taipei Metropolitan Area. The total population of this area is over 7 million. Since Taipei has quite comprehensive infrastructure, a well-developed traffic network, and located in the heart of the Asia-Pacific region (3 hours flight to cities such as Shanghai, Seoul, and Tokyo), it is an important linkage to local markets of Japan, Korea, and the rising Asia-Pacific areas.
| Geographic information | Taipei City is located in northern Taiwan, at a longitude of 121.6 degrees and latitude of 24.9 degrees. |
|---|---|
| Area | 271.7997 km2 |
| Population | 2.50 million persons |
| Employed population | 1.17 million persons |
| Profit-seeking businesses | 237,978 |
| Revenue | NT$17.076trillion (2022) |
| Top five industries in revenue | Wholesale and retail, financial and insurance industry, transportation and storage industry, construction, ICT |
| Key new industries where investments are prioritized | MICE, tourism, biotechnology, cultural/creative, international health care, international cuisine, financial services, ICT, urban renewal, and green industry |
Publication Date：10/17/23
Within an hour by high speed rail, firms can access supply chain resources such as product sampling. R&D design, and mass production throughout northern Taiwan.
The Taipei City Government is the first government agency nationwide to actively promote open data through "data.taipei." Collaborating with major information competitions and leveraging industry-academic resources, the initiative adds value to Taipei City's open data sets. Currently, numerous mobile applications and services have been developed using the datasets made available on the platform.
The household computer ownership exceeds 90%, while optic fiber coverage is greater than 80%. Approximately 10,000 free Wi-Fi hotspots allow people to enjoy easy online access.
Over 99.8% of the population is covered by the National Health Insurance program. There are more than 3,000 medical institutes in Taipei, including 8 major medical centers.
There are over 1,500 convenience stores in Taipei, the highest density in the world. Many are open 24 hours a day, providing easy access to everyday necessities.
Taipei city owns an excellent cultivation environment for talents. About 60,000 professionals in various fields are cultivated from 30 universities and colleges every year and nearly 60 percentage of the employed population obtain the university degrees and all with good work ethics. Taipei City gathers talents in various fields, such as the pilot institute, Academia SINICA, recruits the best domestic research elites and combines a number of major economic and industrial research institutes, together with school education, social training and industrial development. Human resources in Taipei city have the advantages of quality and quantity.
| Industrial Sector Total Revenue in June 2023 | |||
|---|---|---|---|
| Sector | Revenue | Ratio | Top three industries |
| Primary industry | NT$104 billion | 0.13% | 1.Wholesale and Retail Trade NTD 32,627 Billion(42.22%) 2.Financial and Insurance Activities NTD 11,671Billion(15.10%) 3.Manufacturing NTD 9,648 Billion(12.49%) |
| Secondary industry | NT$1.4848 trillion | 19.18% | |
| Tertiary industry | NT$6.2355 trillion | 80.69% | |
| Total | NT$7.7277 trillion | 100% | |
Source: Ministry of Finance, R.O.C.; Information Updated as of June 2023
| The Number of Businesses in Taipei City Across Three Economic Sectors in August 2023 | |||
|---|---|---|---|
| Business quantity | rate | Top three industries | |
| Primary sector | 2,985 | 1.25% |
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| Secondary industrial sector | 53,508 | 22.49% | |
| Tertiary sector | 181,485 | 76.26% | |
| Total | 237,978 | 100.00% | |
Source: Taipei City Office of Commerce; Information Updated as of August 2023
Notes:
Primary industry (agriculture, forestry, aquaculture, and animal husbandry) is primarily composed of quality agriculture.
Secondary industry (industry) consists mostly of urban light industry, urban service industry, and high-tech and technology-intensive industries.
Tertiary industry (services) includes mainly small and medium-sized business-related industries, finance, and other service-related industries.
| Chinese and foreign investments in 2022 | ||||
|---|---|---|---|---|
| Number of Investments | Investment Amount | |||
| 2022 | Foreign investors | Chinese investors | Foreign investors | Chinese investors |
| 1,592(62.04%) | 13(22.42%) | US$50.92 billion (68.11%) |
US$10 million (25.65%) |
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In the IMD Smart City Index 2023, Taipei City ranks 29th among 141 surveyed cities globally, securing the 5th position in Asia. Taipei excels, particularly in the application of technology, earning high marks in various detailed assessments within the same category. This underscores international recognition for Taipei City's success in advancing smart city initiatives.
Taipei City serves as the political, economic, and cultural hub of Taiwan, bordering New Taipei City and Keelung City to form the most crucial metropolitan area in Northern Taiwan. Due to its advantageous geographical location, comfortable living environment, and excellent amenities, coupled with well-developed transportation, information and communication technology, healthcare, education, and other infrastructure, Taipei has become a gathering place for commerce and industry in Taiwan, as well as a center for diverse cultural activities.
Taiwan is world-renowned for its technology development, manufacturing, and operation ability. From January to August in 2023, the amount of export orders was 362.3.3 billion U.S. dollars, an decrease of 85.5 billion U.S. dollars over the same period last year, an annual decrease of 19.1%. The semi-conductor market share reached 26% in 2021; the productivity of the wafer foundry is the top of the world, accounting for 70% market share. IC package productivity is also number 1 in the world, accounting for about 20% market share. Therefore, Taiwan’s technology industry strength is in a leading position globally. 50% of overseas investment is concentrated in Taipei City, with nearly 70% of foreign companies based here. In addition, newly-emerging industries such as the biotechnology; service; cultural and creative; and meetings, incentives, conferences, and exhibitions (MICE) industries have developed rapidly in recent years, receiving a lot of attention and positive recognition in international markets.
There are 11,634 registered ICT companies in Taipei City generating production revenue of US$183.4 billion (NT$5,500 billion). Over 130 thousand are employed in cloud services and tech support fields. Among these, top corporations such as Microsoft, IBM, HP, Yahoo, Google, and Cisco have invested funds and set up offices, making Taipei the first choice for domestic and overseas investment in the ICT industry. Situated on the edge of the city, the Neihu Technology Park and Nangang Software Park possess excellent geographical locations with a convenient transportation network, comprehensive living facilities, and government policy support. The two parks house one-third of all corporate headquarters and R&D centers in Taipei City.
Taipei is the national hub for biotechnology and medical research. Academia Sinica and eight major medical centers are located in Taipei, while more than 20 universities and vocational colleges in the city have biotech departments. This means Taipei City has a high concentration of scientific research talent, attracting hundreds of biotech companies to set up shop in Taipei, including from sectors such as pharmaceutical manufacturing, healthcare and functional foods. The biotech industry in Taipei generates more than 50% of total nationwide revenue for the industry, with 28% of the workforce, giving it a leading position in the industry nationwide.
In the 2022 Global Index International Conference Organization "International Congress and Convention Association (ICCA)" evaluation report, Taiwan held 90 association-type international conferences, surpassing Thailand and jumping to the top 5 conference countries in Asia. Ranked 30th in the world, fully demonstrating the unique charm and abundant energy of my country for hosting international conferences.
According to the survey data of MEET TAIWAN, in 2022, Taiwan's exhibition industry reached NT$22 billion, of which the number of exhibitions held in Taipei accounted for 63.73% of the national total. Taipei has the most complete MICE hardware and software equipment, with 18 5-star hotels in the city. First-class hotel conference and exhibition space, Taipei World Trade Center Halls 1 , Flower Expo Park, Taipei International Convention Center, Taipei Nangang Exhibition Hall, with an exhibition space of 113,000 square meters and nearly 7,491 exhibition booths In the future, the Nangang International Convention Center and the National Convention and Exhibition Center will provide ample exhibition space after the opening.
For more information: Invest Taipei Office
To encourage investment by enterprises, the Taipei City Government has promulgated the "Taipei Municipal Self-Government Ordinance for Industrial Development," offering various subsidy and preferential tax programs depending on the needs of different industries. The purpose is to support sustainable business growth and investor profits. According to the Ordinance, companies engaged in strategic industries are entitled to R&D subsidies and various investment incentives, such as occupational training allowances, loan interest subsidies, and preferential rates for housing and land value taxes.
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Related Subsidy Items | |
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For more information:SITI(Subsidies & Incentives for Taipei Industy)
Publication Date：10/17/234+1 Industrial Park
For improving the business environment which creates a creative cradle, and supports the development of key industries, Taipei City Government builds up the R&D and HQ oriented technology industrial corridor. The 4+1 industrial park plan taken as the future industrial strategy, includes Nangang biotech cluster, Neihu Technology Park Version 2.0, Beitou Shilin Technology Park, Shezidao Eco-project and Innovation park of Yuanshan Expo venue. Through the shaping of the industrial clusters, Taipei City will create a complete industrial corridor and lead the overall industrial upgrading and transformation.
Strategic Goal:
For more information:Invest Taipei Office
Publication Date：10/17/23About Us
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