This paper focuses on the opportunities given to cities (or regions) while a knowledge-based economic society is developing. It begins with a discussion of the formulation of development opportunities based on an analysis of the characteristics of knowledge-based economy. The issue of what kinds of areas may obtain better development opportunities than others is further discussed. The paper also argues that five elements will influence cities' capability to make use of opportunities. These elements are: the ability in reorganizing production factors; learning and knowledge created abilities; knowledge infrastructure; the connection capability; pertinent policies and institutional setting. The paper further makes a primary analysis of the differences of these elements between Taiwan's six main areas.