Global Financial Centres Index

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The Global Financial Centres Index (GFCI) ranks the competitiveness of financial centres based on over 29,000 assessments from an online questionnaire and over 100 indices from organisations such as the World Bank, the Organisation for Economic Co-operation and Development (OECD), and the Economist Intelligence Unit. [1] It was first published in March 2007. It has been jointly published twice per year by the London-based think tank Z/Yen and the China Development Institute since 2015. [2] It is widely quoted as a top source for ranking financial centres. [3] [4] [5]

Contents

GFCI 38 (September 2025)

Top 20 centres in GFCI 38 (September 2025) [6]
RankCentreRatingChange in rankChange in rating
1 Flag of the United States.svg New York City 766Steady2.svgDecrease2.svg 3
2 Flag of the United Kingdom.svg London 765Steady2.svgIncrease2.svg 3
3 Flag of Hong Kong.svg Hong Kong 764Steady2.svgIncrease2.svg 4
4 Flag of Singapore.svg Singapore 763Steady2.svgIncrease2.svg 13
5 Flag of the United States.svg San Francisco 754Steady2.svgIncrease2.svg 5
6 Flag of the United States.svg Chicago 753Steady2.svgIncrease2.svg 7
7 Flag of the United States.svg Los Angeles 752Steady2.svgIncrease2.svg 7
8 Flag of the People's Republic of China.svg Shanghai 751Steady2.svgIncrease2.svg 7
9 Flag of the People's Republic of China.svg Shenzhen 750Steady2.svgIncrease2.svg 7
10 Flag of South Korea.svg Seoul 749Steady2.svgIncrease2.svg 7
11 Flag of the United Arab Emirates.svg Dubai 748Increase2.svg 1Increase2.svg 8
12 Flag of Germany.svg Frankfurt 747Decrease2.svg 1Increase2.svg 6
13 Flag of the United States.svg Washington, D.C. 746Steady2.svgIncrease2.svg 7
14 Flag of Switzerland (Pantone).svg Geneva 745Increase2.svg 1Increase2.svg 8
15 Flag of Japan.svg Tokyo 744Increase2.svg 7Increase2.svg 14
16 Flag of Switzerland (Pantone).svg Zurich 743Increase2.svg 5Increase2.svg 12
17 Flag of the United States.svg Boston 742Decrease2.svg 2Increase2.svg 9
18 Flag of France.svg Paris 741Decrease2.svg 1Increase2.svg 6
19 Flag of Luxembourg.svg Luxembourg 740Decrease2.svg 3Increase2.svg 4
20 Flag of Ireland.svg Dublin 739Decrease2.svg 6Increase2.svg 1

Financial centre profiles (GFCI 36, September 2024)

The report ranks international financial centres into the following matrix:

Financial Centre Profiles (GFCI 36, September 2024) [7]
LevelBroad and deep
Global leaders
Relatively broad
Global diversified
Relatively deep
Global specialists
Emerging
Global contenders
Global

Flag of the United Kingdom.svg London
Flag of the United States.svg New York
Flag of the United States.svg Washington, D.C.
Flag of France.svg Paris
Flag of the United States.svg Los Angeles
Flag of Japan.svg Tokyo
Flag of Switzerland (Pantone).svg Zurich
Flag of the Netherlands.svg Amsterdam
Flag of Ireland.svg Dublin
Flag of Germany.svg Frankfurt

Flag of Singapore.svg Singapore
Flag of South Korea.svg Seoul
Flag of Malaysia.svg Kuala Lumpur
Flag of Belgium (civil).svg Brussels

Flag of the United Arab Emirates.svg Dubai
Flag of the United Arab Emirates.svg Abu Dhabi
Flag of Morocco.svg Casablanca
Flag of Mauritius.svg Mauritius
Flag of Hong Kong.svg Hong Kong
Flag of Luxembourg.svg Luxembourg

Flag of the People's Republic of China.svg Beijing
Flag of Turkey.svg Istanbul
Flag of the People's Republic of China.svg Shanghai

LevelBroad and deep
Established international
Relatively broad
International diversified
Relatively deep
International specialists
Emerging
International contenders
International

Flag of the United States.svg Boston
Flag of the United States.svg Chicago
Flag of South Korea.svg Busan
Flag of the United Kingdom.svg Edinburgh
Flag of Germany.svg Berlin
Flag of Italy.svg Rome
Flag of Italy.svg Milan
Flag of Switzerland (Pantone).svg Geneva
Flag of Canada (Pantone).svg Montreal
Flag of Canada (Pantone).svg Toronto
Flag of Germany.svg Munich
Flag of Australia (converted).svg Sydney
Flag of Japan.svg Osaka
Flag of Germany.svg Hamburg
Flag of Australia (converted).svg Melbourne
Flag of the United States.svg Miami
Flag of Canada (Pantone).svg Vancouver
Flag of Germany.svg Stuttgart

Flag of Thailand.svg Bangkok
Flag of Austria.svg Vienna
Flag of Spain.svg Madrid
Flag of Sweden.svg Stockholm
Flag of the United States.svg San Francisco
Flag of Greece.svg Athens
Flag of Denmark.svg Copenhagen

Flag of India.svg Mumbai
Flag of India.svg GIFT City
Flag of Saudi Arabia.svg Riyadh
Flag of Bermuda.svg Bermuda
Flag of the People's Republic of China.svg Qingdao
Flag of the People's Republic of China.svg Shenzhen
Flag of Israel.svg Tel Aviv
Flag of Kazakhstan.svg Astana
Flag of Jersey.svg Jersey

Flag of Russia.svg Moscow
Flag of Mexico.svg Mexico City
Flag of Panama.svg Panama
Flag of the Bahamas.svg Bahamas
Flag of Kenya.svg Nairobi
Flag of Bahrain.svg Bahrain
Flag of Indonesia.svg Jakarta
Flag of Qatar.svg Doha
Flag of Nigeria.svg Lagos
Flag of India.svg New Delhi
Flag of South Africa.svg Johannesburg
Flag of South Africa.svg Cape Town
Flag of the People's Republic of China.svg Guangzhou
Flag of Brazil.svg São Paulo
Flag of Rwanda.svg Kigali
Flag of the British Virgin Islands.svg British Virgin Islands
Flag of the Cayman Islands.svg Cayman Islands
Flag of the Republic of China.svg Taipei
Flag of Liechtenstein.svg Liechtenstein

LevelBroad and deep
Established players
Relatively broad
Local diversified
Relatively deep
Local specialists
Emerging
Evolving centres
Local

Flag of Norway.svg Oslo
Flag of the United States.svg San Diego
Flag of the United Kingdom.svg Glasgow
Flag of Canada (Pantone).svg Calgary
Flag of the United States.svg Minneapolis/St Paul
Flag of New Zealand.svg Wellington

Flag of Chile.svg Santiago
Flag of Portugal (official).svg Lisbon
Flag of Poland.svg Warsaw
Flag of the Czech Republic.svg Prague
Flag of the United States.svg Atlanta
Flag of Finland.svg Helsinki

Flag of Brazil.svg Rio de Janeiro
Flag of Estonia.svg Tallinn
Flag of Malta.svg Malta
Flag of Vietnam.svg Ho Chi Minh City
Flag of the People's Republic of China.svg Chengdu
Flag of Switzerland (Pantone).svg Lugano
Flag of the People's Republic of China.svg Xi'an
Flag of the People's Republic of China.svg Hangzhou
Flag of the People's Republic of China.svg Wuhan
Flag of the People's Republic of China.svg Tianjin
Flag of Iceland.svg Reykjavík
Flag of Monaco.svg Monaco
Flag of the People's Republic of China.svg Nanjing
Flag of Gibraltar.svg Gibraltar
Flag of the People's Republic of China.svg Dalian

Flag of Azerbaijan.svg Baku
Flag of the Philippines.svg Manila
Flag of Argentina.svg Buenos Aires
Flag of Bulgaria.svg Sofia
Flag of Latvia.svg Riga
Flag of Cyprus.svg Cyprus
Flag of Russia.svg Saint Petersburg
Flag of Hungary.svg Budapest
Flag of Iran.svg Tehran
Flag of Colombia.svg Bogotá
Flag of Guernsey.svg Guernsey
Flag of Slovakia.svg Bratislava
Flag of Lithuania.svg Vilnius
Flag of Kazakhstan.svg Almaty
Flag of Trinidad and Tobago.svg Trinidad and Tobago
Flag of Barbados.svg Barbados
Flag of the Isle of Man.svg Isle of Man
Flag of Kuwait.svg Kuwait City

References

  1. Jones, Huw (24 March 2022). "New York widens lead over London in top finance centres index". Reuters. Archived from the original on Oct 8, 2022. Retrieved 10 September 2022. Rankings are based on surveys and 150 factors, with quantitative measures from the World Bank, The Economist Intelligence Unit, the OECD and United Nations.
  2. "The Global Financial Centres Index - Long Finance". www.longfinance.net. Retrieved 2025-09-25.
  3. Yoshio Okubo (October 2014). "Comparison of Global Financial Center" (PDF). Harvard Law School, Program on International Financial Systems, Japan-U.S. Symposium. Archived from the original on 30 May 2015. Retrieved 30 May 2015.
  4. Glover, John (17 March 2014). "New York Strips London of Mantle as World's Top Financial Center" . Bloomberg L.P. Archived from the original on Jun 9, 2015. Retrieved 30 May 2015.
  5. Pooler, Michael (1 October 2014). "New York and London vie for crown of world's top financial centre" . The Financial Times. Archived from the original on 2 Oct 2014. Retrieved 24 May 2015.
  6. "GFCI 38 Rank - Long Finance". www.longfinance.net. Retrieved 2025-09-25.
  7. "GFCI 37 Rank - Long Finance". www.longfinance.net. Retrieved 2024-09-24.