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. The first index was 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. [1] [2] It is widely quoted as a top source for ranking financial centres. [3] [4] [5]

Contents

GFCI 36 (September 2024)

The 36th edition of the GFCI was published in September 2024. [6] New York City, London and Hong Kong ranked top 3 globally.

Top 20 Centres in GFCI 36 (September 2024) [6]
RankCentreRatingChange in rankChange in rating
1 Flag of the United States.svg New York City 763Steady2.svgDecrease2.svg 1
2 Flag of the United Kingdom.svg London 750Steady2.svgIncrease2.svg 3
3 Flag of Hong Kong.svg Hong Kong 749Increase2.svg 1Increase2.svg 8
4 Flag of Singapore.svg Singapore 747Decrease2.svg 1Increase2.svg 5
5 Flag of the United States.svg San Francisco 742Steady2.svgIncrease2.svg 2
6 Flag of the United States.svg Chicago 740Increase2.svg 3Increase2.svg 4
7 Flag of the United States.svg Los Angeles 739Increase2.svg 1Increase2.svg 2
8 Flag of the People's Republic of China.svg Shanghai 738Decrease2.svg 2Decrease2.svg 1
9 Flag of the People's Republic of China.svg Shenzhen 732Increase2.svg 2Decrease2.svg 2
10 Flag of Germany.svg Frankfurt 730Increase2.svg 3Decrease2.svg 2
11 Flag of South Korea.svg Seoul 729Decrease2.svg 1Decrease2.svg 6
12 Flag of the United States.svg Washington, D.C. 728Steady2.svgDecrease2.svg 5
13 Flag of Switzerland (Pantone).svg Geneva 726Decrease2.svg 6Decrease2.svg 12
14 Flag of Ireland.svg Dublin 725Increase2.svg 11Increase2.svg 6
15 Flag of France.svg Paris 724Decrease2.svg 1Decrease2.svg 7
16 Flag of the United Arab Emirates.svg Dubai 723Increase2.svg 4Decrease2.svg 1
17 Flag of Switzerland (Pantone).svg Zurich 722Decrease2.svg 1Decrease2.svg 7
18 Flag of the People's Republic of China.svg Beijing 721Decrease2.svg 3Decrease2.svg 9
19 Flag of Luxembourg.svg Luxembourg 720Decrease2.svg 2Decrease2.svg 8
20 Flag of Japan.svg Tokyo 719Decrease2.svg 1Decrease2.svg 6
All Surveyed Centres in GFCI 36 (September 2024) [6]
RankCentreRatingChange in rankChange in rating
1 Flag of the United States.svg New York City 763Steady2.svgDecrease2.svg 1
2 Flag of the United Kingdom.svg London 750Steady2.svgIncrease2.svg 3
3 Flag of Hong Kong.svg Hong Kong 749Increase2.svg 1Increase2.svg 8
4 Flag of Singapore.svg Singapore 747Decrease2.svg 1Increase2.svg 5
5 Flag of the United States.svg San Francisco 742Steady2.svgIncrease2.svg 2
6 Flag of the United States.svg Chicago 740Increase2.svg 3Increase2.svg 4
7 Flag of the United States.svg Los Angeles 739Increase2.svg 1Increase2.svg 2
8 Flag of the People's Republic of China.svg Shanghai 738Decrease2.svg 2Decrease2.svg 1
9 Flag of the People's Republic of China.svg Shenzhen 732Increase2.svg 2Decrease2.svg 2
10 Flag of Germany.svg Frankfurt 730Increase2.svg 3Decrease2.svg 2
11 Flag of South Korea.svg Seoul 729Decrease2.svg 1Decrease2.svg 6
12 Flag of the United States.svg Washington, D.C. 728Steady2.svgDecrease2.svg 5
13 Flag of Switzerland (Pantone).svg Geneva 726Decrease2.svg 6Decrease2.svg 12
14 Flag of Ireland.svg Dublin 725Increase2.svg 11Increase2.svg 6
15 Flag of France.svg Paris 724Decrease2.svg 1Decrease2.svg 7
16 Flag of the United Arab Emirates.svg Dubai 723Increase2.svg 4Decrease2.svg 1
17 Flag of Switzerland (Pantone).svg Zurich 722Decrease2.svg 1Decrease2.svg 7
18 Flag of the People's Republic of China.svg Beijing 721Decrease2.svg 3Decrease2.svg 9
19 Flag of Luxembourg.svg Luxembourg 720Decrease2.svg 2Decrease2.svg 8
20 Flag of Japan.svg Tokyo 719Decrease2.svg 1Decrease2.svg 6
21 Flag of the United States.svg San Diego 718Steady2.svgDecrease2.svg 5
22 Flag of the United States.svg Boston 717Steady2.svgDecrease2.svg 5
23 Flag of Canada (Pantone).svg Toronto 716Steady2.svgDecrease2.svg 5
24 Flag of Canada (Pantone).svg Montreal 715Increase2.svg 6Increase2.svg 1
25 Flag of South Korea.svg Busan 714Increase2.svg 2Decrease2.svg 3
26 Flag of Switzerland (Pantone).svg Lugano 713Increase2.svg 9Increase2.svg 4
27 Flag of the Netherlands.svg Amsterdam 712Decrease2.svg 3Decrease2.svg 8
28 Flag of Australia (converted).svg Sydney 711Decrease2.svg 10Decrease2.svg 15
29 Flag of the United Kingdom.svg Edinburgh 710Increase2.svg 4Decrease2.svg 1
30 Flag of Jersey.svg Jersey 709Increase2.svg 10Increase2.svg 5
31 Flag of the People's Republic of China.svg Qingdao 708Steady2.svgDecrease2.svg 5
32 Flag of Australia (converted).svg Melbourne 707Decrease2.svg 4Decrease2.svg 9
33 Flag of the United States.svg Minneapolis/St Paul 706Decrease2.svg 7Decrease2.svg 12
34 Flag of the People's Republic of China.svg Guangzhou 705Decrease2.svg 5Decrease2.svg 10
35 Flag of the United Arab Emirates.svg Abu Dhabi 704Increase2.svg 2Decrease2.svg 3
36 Flag of the United States.svg Miami 703Increase2.svg 2Decrease2.svg 3
37 Flag of the United Kingdom.svg Glasgow 702Increase2.svg 5Steady2.svg
38 Flag of Canada (Pantone).svg Calgary 701Decrease2.svg 4Decrease2.svg 9
39 Flag of the People's Republic of China.svg Chengdu 700Increase2.svg 4Decrease2.svg 1
40 Flag of Denmark.svg Copenhagen 699Decrease2.svg 1Decrease2.svg 6
41 Flag of the United States.svg Atlanta 698Increase2.svg 4Decrease2.svg 1
42 Flag of Canada (Pantone).svg Vancouver 697Increase2.svg 4Decrease2.svg 1
43 Flag of Germany.svg Berlin 696Decrease2.svg 11Decrease2.svg 16
44 Flag of Japan.svg Osaka 695Increase2.svg 3Decrease2.svg 2
45 Flag of Germany.svg Munich 694Decrease2.svg 9Decrease2.svg 14
46 Flag of New Zealand.svg Wellington 693Decrease2.svg 5Decrease2.svg 10
47 Flag of Spain.svg Madrid 692Increase2.svg 5Steady2.svg
48 Flag of Israel.svg Tel Aviv 691Steady2.svgDecrease2.svg 5
49 Flag of Guernsey.svg Guernsey 690Increase2.svg 20Increase2.svg 15
50 Flag of Germany.svg Hamburg 689Increase2.svg 1Decrease2.svg 4
51 Flag of Italy.svg Milan 688Increase2.svg 4Decrease2.svg 1
52 Flag of India.svg GIFT City-Gujarat 687Increase2.svg 5Steady2.svg
53 Flag of Germany.svg Stuttgart 686Decrease2.svg 9Decrease2.svg 14
54 Flag of India.svg Mumbai 685Increase2.svg 4Decrease2.svg 1
55 Flag of Iceland.svg Reykjavík 684Decrease2.svg 6Decrease2.svg 11
56 Flag of the Isle of Man.svg Isle of Man 683Increase2.svg 12Increase2.svg 7
57 Flag of Morocco.svg Casablanca 682Decrease2.svg 1Decrease2.svg 6
58 Flag of Norway.svg Oslo 681Decrease2.svg 5Decrease2.svg 10
59 Flag of Malaysia.svg Kuala Lumpur 680Increase2.svg 18Increase2.svg 13
60 Flag of Mauritius.svg Mauritius 679Increase2.svg 1Decrease2.svg 4
61 Flag of Belgium (civil).svg Brussels 678Decrease2.svg 1Decrease2.svg 6
62 Flag of Kazakhstan.svg Astana 677Increase2.svg 4Decrease2.svg 1
63 Flag of Saudi Arabia.svg Riyadh 676Increase2.svg 21Increase2.svg 16
64 Flag of Qatar.svg Doha 675Increase2.svg 24Increase2.svg 19
65 Flag of the People's Republic of China.svg Dalian 674Decrease2.svg 6Decrease2.svg 11
66 Flag of Sweden.svg Stockholm 673Decrease2.svg 16Decrease2.svg 21
67 Flag of Rwanda.svg Kigali 672Steady2.svgDecrease2.svg 5
68 Flag of India.svg New Delhi 671Increase2.svg 7Increase2.svg 2
69 Flag of Kuwait.svg Kuwait City 670Increase2.svg 11Increase2.svg 6
70 Flag of Malta.svg Malta 669Steady2.svgDecrease2.svg 5
71 Flag of Finland.svg Helsinki 668Decrease2.svg 9Decrease2.svg 14
72 Flag of the People's Republic of China.svg Hangzhou 667Decrease2.svg 1Decrease2.svg 6
73 Flag of the Republic of China.svg Taipei 666Steady2.svgDecrease2.svg 5
74 Flag of Liechtenstein.svg Liechtenstein 665Decrease2.svg 10Decrease2.svg 15
75 Flag of South Africa.svg Johannesburg 664Increase2.svg 7Increase2.svg 2
76 Flag of Italy.svg Rome 663Decrease2.svg 22Decrease2.svg 27
77 Flag of the People's Republic of China.svg Nanjing 662Decrease2.svg 14Decrease2.svg 19
78 Flag of the People's Republic of China.svg Tianjin 661Decrease2.svg 13Decrease2.svg 18
79 Flag of Bermuda.svg Bermuda 660Increase2.svg 27Increase2.svg 34
80 Flag of Bahrain.svg Bahrain 659Decrease2.svg 4Decrease2.svg 9
81 Flag of the Cayman Islands.svg Cayman Islands 658Decrease2.svg 2Decrease2.svg 7
82 Flag of the People's Republic of China.svg Wuhan 657Increase2.svg 9Increase2.svg 4
83 Flag of Austria.svg Vienna 656Decrease2.svg 11Decrease2.svg 16
84 Flag of South Africa.svg Cape Town 655Decrease2.svg 1Decrease2.svg 6
85 Flag of Brazil.svg São Paulo 654Steady2.svgDecrease2.svg 5
86 Flag of Kazakhstan.svg Almaty 653Increase2.svg 12Increase2.svg 19
87 Flag of Portugal.svg Lisbon 652Decrease2.svg 13Decrease2.svg 18
88 Flag of Gibraltar.svg Gibraltar 651Decrease2.svg 10Decrease2.svg 15
89 Flag of Barbados.svg Barbados 650Decrease2.svg 2Decrease2.svg 7
90 Flag of Brazil.svg Rio de Janeiro 649Increase2.svg 4Increase2.svg 3
91 Flag of Estonia.svg Tallinn 648Decrease2.svg 10Decrease2.svg 15
92 Flag of Cyprus.svg Cyprus 647Increase2.svg 5Increase2.svg 9
93 Flag of the Czech Republic.svg Prague 646Decrease2.svg 7Decrease2.svg 12
94 Flag of the People's Republic of China.svg Xi'an 645Decrease2.svg 4Decrease2.svg 9
95 Flag of Thailand.svg Bangkok 644Decrease2.svg 2Decrease2.svg 4
96 Flag of Chile.svg Santiago 643Decrease2.svg 4Decrease2.svg 6
97 Flag of Indonesia.svg Jakarta 642Increase2.svg 5Increase2.svg 12
98 Flag of Monaco.svg Monaco 641Decrease2.svg 9Decrease2.svg 14
99 Flag of Poland.svg Warsaw 640Decrease2.svg 3Increase2.svg 1
100 Flag of Nigeria.svg Lagos 638Steady2.svgIncrease2.svg 6
101 Flag of Latvia.svg Riga 637Decrease2.svg 2Increase2.svg 4
102 Flag of Kenya.svg Nairobi 636Decrease2.svg 7Decrease2.svg 5
103 Flag of the Bahamas.svg Bahamas 635Increase2.svg 8Increase2.svg 18
104 Flag of Turkey.svg Istanbul 632Increase2.svg 6Increase2.svg 13
105 Flag of Vietnam.svg Ho Chi Minh City 629Increase2.svg 3Increase2.svg 6
106 Flag of Lithuania.svg Vilnius 627Decrease2.svg 3Decrease2.svg 2
107 Flag of Mexico.svg Mexico City 626Increase2.svg 2Increase2.svg 6
108 Flag of Bulgaria.svg Sofia 618Decrease2.svg 4Decrease2.svg 10
109 Flag of the British Virgin Islands.svg British Virgin Islands 617Decrease2.svg 2Decrease2.svg 7
110 Flag of the Philippines.svg Manila 616Decrease2.svg 9Decrease2.svg 15
111 Flag of Greece.svg Athens 615Decrease2.svg 6Decrease2.svg 12
112 Flag of Panama.svg Panama 614Increase2.svg 3Increase2.svg 6
113 Flag of Iran.svg Tehran 616Decrease2.svg 1Decrease2.svg 6
114 Flag of Hungary.svg Budapest 609Decrease2.svg 1Decrease2.svg 5
115 Flag of Trinidad and Tobago.svg Trinidad and Tobago 608Decrease2.svg 1Decrease2.svg 1
116 Flag of Slovakia.svg Bratislava 607Steady2.svgSteady2.svg
117 Flag of Colombia.svg Bogotá 604Steady2.svgIncrease2.svg 5
118 Flag of Russia.svg Saint Petersburg 597Increase2.svg 2Increase2.svg 10
119 Flag of Russia.svg Moscow 590Decrease2.svg 1Decrease2.svg 6
120 Flag of Azerbaijan.svg Baku 589Decrease2.svg 1Decrease2.svg 6
121 Flag of Argentina.svg Buenos Aires 586Steady2.svgIncrease2.svg 14

Ranking by region

Financial centre profiles (GFCI 36, September 2024)

The latest report ranked 120 international financial centres into the following matrix:

Financial Centre Profiles (GFCI 36, September 2024) [6]
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-Gujarat*
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.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

An asterisk (*) denotes centres that have moved between categories between GFCI 35 and GFCI 36.

Top 15 centres by area of competitiveness

This is run for five separate areas of competitiveness to assess how financial centres perform in each of the areas. [6]

LevelBusiness environmentHuman capitalInfrastructureFinancial sector developmentReputational and general
1 Flag of the United States.svg New York City Flag of the United States.svg New York City Flag of the United States.svg New York City Flag of the United States.svg New York City Flag of the United States.svg New York City
2 Flag of Singapore.svg Singapore Flag of the United Kingdom.svg London Flag of Singapore.svg Singapore Flag of Singapore.svg Singapore Flag of the United Kingdom.svg London
3 Flag of the United Kingdom.svg London Flag of Hong Kong.svg Hong Kong Flag of the United Kingdom.svg London Flag of the People's Republic of China.svg Shanghai Flag of Singapore.svg Singapore
4 Flag of Hong Kong.svg Hong Kong Flag of Singapore.svg Singapore Flag of Hong Kong.svg Hong Kong Flag of the United Kingdom.svg London Flag of Hong Kong.svg Hong Kong
5 Flag of the People's Republic of China.svg Shanghai Flag of the United States.svg San Francisco Flag of South Korea.svg Seoul Flag of the United States.svg San Francisco Flag of the United States.svg San Francisco
6 Flag of the United States.svg San Francisco Flag of the United States.svg Los Angeles Flag of the United States.svg Los Angeles Flag of the United States.svg Los Angeles Flag of the People's Republic of China.svg Shanghai
7 Flag of the United States.svg Chicago Flag of the United States.svg Chicago Flag of the People's Republic of China.svg Shenzhen Flag of the United States.svg Chicago Flag of the United States.svg Chicago
8 Flag of the United States.svg Los Angeles Flag of the United States.svg Washington, D.C. Flag of the United States.svg San Francisco Flag of Hong Kong.svg Hong Kong Flag of the United States.svg Los Angeles
9 Flag of South Korea.svg Seoul Flag of the People's Republic of China.svg Shanghai Flag of the United States.svg Chicago Flag of the People's Republic of China.svg Beijing Flag of Japan.svg Tokyo
10 Flag of Switzerland (Pantone).svg Geneva Flag of Japan.svg Tokyo Flag of the People's Republic of China.svg Shanghai Flag of the United States.svg Washington, D.C. Flag of Ireland.svg Dublin
11 Flag of the People's Republic of China.svg Beijing Flag of France.svg Paris Flag of Germany.svg Frankfurt Flag of the People's Republic of China.svg Shenzhen Flag of the People's Republic of China.svg Beijing
12 Flag of the United States.svg San Diego Flag of South Korea.svg Seoul Flag of the People's Republic of China.svg Beijing Flag of South Korea.svg Seoul Flag of the United Arab Emirates.svg Dubai
13 Flag of Germany.svg Frankfurt Flag of Switzerland (Pantone).svg Zurich Flag of Luxembourg.svg Luxembourg Flag of Switzerland (Pantone).svg Geneva Flag of the United States.svg Boston
14 Flag of Canada (Pantone).svg Toronto Flag of Ireland.svg Dublin Flag of the United Arab Emirates.svg Dubai Flag of the United States.svg San Diego Flag of the People's Republic of China.svg Shenzhen
15 Flag of the People's Republic of China.svg Shenzhen Flag of the United States.svg San Diego Flag of the United States.svg Washington, D.C. Flag of the United States.svg Boston Flag of Germany.svg Frankfurt

Key areas

The business environment factors aggregate and value the regulation, tax rates, levels of corruption, economic freedom and how difficult in general it is to do business. To measure regulation an online questionnaire has been used.

The human capital factors summarize the availability of a skilled workforce, the flexibility of the labour market, the quality of the business education and the skill-set of the workforce, and quality of life.

The infrastructure factors account for the price and availability of office space at the location, as well as public transport.

The financial sector development factors assess the volume and value of trading in capital markets and other financial markets, the cluster effect of the number of different financial service companies at the location, and employment and economic output indicators.

Reputational and general considers more subjective aspects such as innovation, brand appeal, cultural diversity and competitive positioning.

Top 15 centres by industry sector

The index provides sub-rankings in the main areas of financial services – banking, investment management, insurance, professional services, government and regulation, finance, fintech, and trading. [6]

LevelBankingInvestment managementInsuranceProfessional servicesGovernment and regulatoryFinanceFintechTrading
1 Flag of the United States.svg New York City Flag of Hong Kong.svg Hong Kong Flag of the United States.svg New York City Flag of the United States.svg New York City Flag of the United States.svg New York City Flag of the People's Republic of China.svg Shenzhen Flag of the United States.svg New York City Flag of the United States.svg New York City
2 Flag of the People's Republic of China.svg Shenzhen Flag of the United States.svg New York City Flag of the United Kingdom.svg London Flag of Singapore.svg Singapore Flag of Singapore.svg Singapore Flag of the United States.svg New York City Flag of Singapore.svg Singapore Flag of Singapore.svg Singapore
3 Flag of the United Kingdom.svg London Flag of the People's Republic of China.svg Shenzhen Flag of Hong Kong.svg Hong Kong Flag of the United Kingdom.svg London Flag of the United Kingdom.svg London Flag of Hong Kong.svg Hong Kong Flag of the United Kingdom.svg London Flag of the People's Republic of China.svg Shanghai
4 Flag of Hong Kong.svg Hong Kong Flag of the United Kingdom.svg London Flag of the People's Republic of China.svg Shenzhen Flag of Hong Kong.svg Hong Kong Flag of the People's Republic of China.svg Shanghai Flag of the United Kingdom.svg London Flag of Hong Kong.svg Hong Kong Flag of South Korea.svg Seoul
5 Flag of the People's Republic of China.svg Shanghai Flag of Singapore.svg Singapore Flag of the People's Republic of China.svg Shanghai Flag of South Korea.svg Seoul Flag of Hong Kong.svg Hong Kong Flag of the People's Republic of China.svg Shanghai Flag of the United States.svg San Francisco Flag of the United Kingdom.svg London
6 Flag of the United States.svg Chicago Flag of the People's Republic of China.svg Shanghai Flag of the People's Republic of China.svg Beijing Flag of the United States.svg San Francisco Flag of the United States.svg Chicago Flag of the United States.svg Chicago Flag of the United Arab Emirates.svg Dubai Flag of the United States.svg Los Angeles
7 Flag of Singapore.svg Singapore Flag of Ireland.svg Dublin Flag of Singapore.svg Singapore Flag of the United States.svg Los Angeles Flag of Switzerland (Pantone).svg Zurich Flag of the United States.svg San Francisco Flag of Germany.svg Frankfurt Flag of the United States.svg Chicago
8 Flag of the People's Republic of China.svg Beijing Flag of the United States.svg San Francisco Flag of the United States.svg San Francisco Flag of the United States.svg Chicago Flag of Luxembourg.svg Luxembourg Flag of Singapore.svg Singapore Flag of South Korea.svg Seoul Flag of the People's Republic of China.svg Beijing
9 Flag of the United States.svg San Francisco Flag of Germany.svg Frankfurt Flag of Australia (converted).svg Sydney Flag of Switzerland (Pantone).svg Zurich Flag of South Korea.svg Seoul Flag of the People's Republic of China.svg Beijing Flag of the United States.svg Los Angeles Flag of the United States.svg San Francisco
10 Flag of the United States.svg Los Angeles Flag of the United States.svg Los Angeles Flag of the United States.svg Los Angeles Flag of Luxembourg.svg Luxembourg Flag of the People's Republic of China.svg Beijing Flag of the United States.svg Washington, D.C. Flag of the United States.svg San Diego Flag of Hong Kong.svg Hong Kong
11 Flag of Germany.svg Frankfurt Flag of the People's Republic of China.svg Beijing Flag of Japan.svg Tokyo Flag of the United Arab Emirates.svg Dubai Flag of Germany.svg Frankfurt Flag of Japan.svg Tokyo Flag of the United States.svg Chicago Flag of France.svg Paris
12 Flag of the United States.svg Washington, D.C. Flag of Japan.svg Tokyo Flag of Switzerland (Pantone).svg Zurich Flag of Germany.svg Frankfurt Flag of the United States.svg Washington, D.C. Flag of the United States.svg Los Angeles Flag of Canada (Pantone).svg Toronto Flag of the United States.svg Washington, D.C.
13 Flag of Switzerland (Pantone).svg Geneva Flag of Switzerland (Pantone).svg Geneva Flag of the United States.svg Chicago Flag of Ireland.svg Dublin Flag of Japan.svg Tokyo Flag of the United Arab Emirates.svg Dubai Flag of Switzerland (Pantone).svg Geneva Flag of Germany.svg Frankfurt
14 Flag of the United States.svg Boston Flag of France.svg Paris Flag of the United States.svg Washington, D.C. Flag of the People's Republic of China.svg Shanghai Flag of the United States.svg San Francisco Flag of South Korea.svg Seoul Flag of Switzerland (Pantone).svg Zurich Flag of Japan.svg Tokyo
15 Flag of France.svg Paris Flag of the United States.svg Chicago Flag of Switzerland (Pantone).svg Geneva Flag of the People's Republic of China.svg Shenzhen Flag of the United States.svg Los Angeles Flag of Germany.svg Frankfurt Flag of South Korea.svg Busan Flag of Switzerland (Pantone).svg Geneva

Reputation

The index measures a financial centre's reputation by calculating the difference between weighted average of financial professionals' opinions and the GFCI rating of each locale. [6]

Top 15 Centres by Reputation
CentreWeighted Average AssessmentGFCI 36 RatingGFCI 36 Reputational Advantage
Flag of the People's Republic of China.svg Chengdu 872700172
Flag of India.svg GIFT City-Gujarat 854687167
Flag of the People's Republic of China.svg Shenzhen 872732140
Flag of the People's Republic of China.svg Qingdao 823708115
Flag of the People's Republic of China.svg Guangzhou 812705107
Flag of Mauritius.svg Mauritius 75067971
Flag of the United States.svg New York 82676363
Flag of the United Kingdom.svg London 81075060
Flag of Lithuania.svg Vilnius 68562758
Flag of Singapore.svg Singapore 79774750
Flag of the United States.svg Washington DC 77872850
Flag of the United States.svg San Francisco 79074248
Flag of Hong Kong.svg Hong Kong 79774948
Flag of the People's Republic of China.svg Xi'an 69064545
Flag of Monaco.svg Monaco 68364142
Bottom 15 Centres by Reputation
CentreWeighted Average AssessmentGFCI 36 RatingGFCI 36 Reputational Advantage
Flag of the United States.svg San Diego 657718-61
Flag of the United Kingdom.svg Edinburgh 648710-62
Flag of the United States.svg Atlanta 636698-62
Flag of Russia.svg Moscow 527590-63
Flag of Hungary.svg Budapest 544609-65
Flag of Brazil.svg Rio de Janeiro 544609-65
Flag of Canada (Pantone).svg Calgary 581649-68
Flag of Poland.svg Warsaw 569640-71
Flag of Slovakia.svg Bratislava 534607-73
Flag of the People's Republic of China.svg Beijing 636721-85
Flag of Argentina.svg Buenos Aires 495586-91
Flag of Kazakhstan.svg Almaty 562653-91
Flag of Nigeria.svg Lagos 541638-97
Flag of Azerbaijan.svg Baku 483589-106
Flag of the United States.svg Minneapolis/St Paul 588706-118

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The economy of Gibraltar consists largely of the services sector. While part of the European Union until Brexit, the British overseas territory of Gibraltar has a separate legal jurisdiction from the United Kingdom and a different tax system. The role of the UK Ministry of Defence, which at one time was Gibraltar's main source of income, has declined, with today's economy mainly based on shipping, tourism, financial services, and the Internet.

<span class="mw-page-title-main">Economy of the United States</span>

The United States is a highly developed mixed economy. It is the world's largest economy by nominal GDP; it is also the second largest by purchasing power parity (PPP), behind China. It has the world's sixth highest per capita GDP (nominal) and the eighth highest per capita GDP (PPP) as of 2024. The U.S. accounted for 26% of the global economy in 2023 in nominal terms, and about 15.5% in PPP terms. The U.S. dollar is the currency of record most used in international transactions and is the world's reserve currency, backed by a large U.S. treasuries market, its role as the reference standard for the petrodollar system, and its linked eurodollar. Several countries use it as their official currency and in others it is the de facto currency. Since the end of World War II, the economy has achieved relatively steady growth, low unemployment and inflation, and rapid advances in technology.

<i>Index of Economic Freedom</i> Annual index and ranking created in 1995

The Index of Economic Freedom is an annual index and ranking created in 1995 by The Heritage Foundation and The Wall Street Journal to measure the degree of economic freedom in the world's nations. The creators of the index assert that they take an approach inspired by Adam Smith's The Wealth of Nations, that "basic institutions that protect the liberty of individuals to pursue their own economic interests result in greater prosperity for the larger society".

<span class="mw-page-title-main">Global city</span> City important to the world economy

A global city is a city that serves as a primary node in the global economic network. The concept originates from geography and urban studies, based on the thesis that globalization has created a hierarchy of strategic geographic locations with varying degrees of influence over finance, trade, and culture worldwide. The global city represents the most complex and significant hub within the international system, characterized by links binding it to other cities that have direct, tangible effects on global socioeconomic affairs.

City quality of life indices are lists of cities that are ranked according to a defined measure of living conditions. In addition to considering the provision of clean water, clean air, adequate food and shelter, many indexes also measure more subjective elements including a city's capacity to generate a sense of community and offer hospitable settings for all, especially young people, to develop social skills, a sense of autonomy and identity.

Country risk refers to the risk of investing or lending in a country, arising from possible changes in the business environment that may adversely affect operating profits or the value of assets in the country. For example, financial factors such as currency controls, devaluation or regulatory changes, or stability factors such as mass riots, civil war and other potential events contribute to companies' operational risks. This term is also sometimes referred to as political risk; however, country risk is a more general term that generally refers only to risks influencing all companies operating within or involved with a particular country.

<span class="mw-page-title-main">Financial centre</span> Locations which are centres of financial activity

A financial centre or financial hub is a location with a significant concentration of participants in banking asset management, insurance, and financial markets, with venues and supporting services for these activities to take place. Participants can include financial intermediaries, institutional investors, and issuers. Trading activity can take place on venues such as exchanges and involve clearing houses, although many transactions take place over-the-counter (OTC), directly between participants. Financial centres usually host companies that offer a wide range of financial services, for example relating to mergers and acquisitions, public offerings, or corporate actions; or which participate in other areas of finance, such as private equity, hedge funds, and reinsurance. Ancillary financial services include rating agencies, as well as provision of related professional services, particularly legal advice and accounting services.

<span class="mw-page-title-main">Ease of doing business index</span> Economic indicator

The ease of doing business index was an index created jointly by Simeon Djankov, Michael Klein, and Caralee McLiesh, three leading economists at the World Bank Group, following the release of World Development Report 2002. The academic research for the report was done jointly with professors Edward Glaeser, Oliver Hart, and Andrei Shleifer. Though the first report was authored by Djankov, Klein, and McLiesh, and they continue to be listed as "founders" of the report, some sources attribute the genesis of the idea to Djankov and Gerhard Pohl. Higher rankings indicated better, usually simpler, regulations for businesses and stronger protections of property rights. Empirical research funded by the World Bank to justify their work show that the economic growth effect of improving these regulations is strong. Other researchers find that the distance-to-frontier measure introduced in 2016 after a decision of the World Bank board is not correlated with subsequent economic growth or investment.

The following are international rankings of Thailand.

<span class="mw-page-title-main">Avinash Persaud</span>

Avinash D. Persaud is emeritus Professor of Gresham College in the UK. He was the Chairman of Intelligence Capital Ltd., a company specializing in analyzing, managing and creating financial liquidity in investment projects and portfolios. He was also the non-Executive Chairman of the London-based Elara Capital, an investment bank. Persaud was a Non-resident Senior Fellow of the Peterson Institute of International Economics, Executive Fellow of London Business School and Senior Fellow with the Caribbean Policy Research Institute and Head of its Barbados office.

The following are international rankings of Malaysia.

<i>Euromoney</i> English-language monthly magazine

Euromoney is an English-language monthly magazine focused on business and finance. First published in 1969, it is the flagship production of Euromoney Institutional Investor plc.

The following are international rankings of Saudi Arabia.

The following is a list of international rankings of  Greece.

<span class="mw-page-title-main">Antimonopoly Policy Improvement Center</span>

Antimonopoly Policy Improvement Center (APIC) is a leading think-tank, non-commercial and independent research institution which focuses in competition, innovation, business and consumer policies in Uzbekistan. APIC's slogan mark is "Knowledge for development", which APIC tries to achieve through the results of its products. Members of the staff consists of young and professional specialists from the leading universities of US, UK and other developed countries. It is the first institution in Uzbekistan, which started publishing monthly business activity index in July 2009, which consists of surveys from the large and medium-sized companies, representing leading and the most dynamic spheres of Uzbekistan's economy. One of its flagship research products was the study of remittances in Uzbekistan, conducted with the financial assistance of International Development Research Centre of Canada and on innovation policies in Uzbekistan. APIC also conducts due diligence, risk analysis, market studies, nationwide surveys (SPSS), trainings and seminars.

Canada ranks among the highest in international measurements of human rights, civil liberties, quality of life, education levels, gender equality, public services, public security and environmental sustainability. It ranks among the lowest of the most developed countries for housing affordability, healthcare services and foreign direct investment.

Financial services in Gibraltar refers to the services provided in the British Overseas Territory of Gibraltar by the finance industry: banks, investment banks, insurance companies, credit card companies, consumer finance companies, government-sponsored enterprises, and stock brokerages.

<span class="mw-page-title-main">Casablanca Finance City</span> Economic and financial center in Casablanca, Morocco

Casablanca Finance City (CFC) is an economic and financial center located in Casablanca, Morocco. Its goal is to act as a bridge between north and south by attracting international institutions and investors to invest and operate in North, West, and Central Africa, with Casablanca serving as the gateway to the region. The center focuses on three business categories: financial companies, professional services providers, and regional or international headquarters of multinationals.

The following are international rankings of Shanghai by categories.

China Development Institute (CDI) is a China-based think tank headquartered in Shenzhen, Guangdong, bordering Hong Kong. It was founded in 1989 to support the Chinese economic reform. CDI is also tasked with expanding international academic exchanges and cooperation between think tanks and private enterprise.

References

  1. Yeandle, Mark (September 2016). "The Global Financial Centres Index 20". Long Finance. Archived from the original on Jul 18, 2023.
  2. 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.
  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. 1 2 3 4 5 6 7 8 9 10 11 12 13 "GFCI 36 Rank - Long Finance". www.longfinance.net. Retrieved 2024-09-24.