The latest (18) biannual Global Financial Centres Index (GFCI) complied by Z/Yen, provides profiles, rating and rankings for 83 financial centres by drawing two separate sources of data – external indices and responses to an online survey.
The main headlines of this index are:
-
London has moved ahead of New York to reclaim the number one position
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London, New York, Hong Kong and Singapore remain the four leading global financial centres
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Western Europe centres show signs of recovery
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Eastern European and Central Asian centres prosper
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Middle East and Africa centres do well
In terms of notable rises, the index indicates that Dubai has made strong gains after seeing a fall in the GFCI 17. Moreover, GFCI 18 reports on the rapid economic development of Global Financial Centres (GFCs) in China, such as Shanghai, Shenzhen and Beijing, as they ranked in the 21
st, 23
rd and 29
th places respectively.
What concerns offshore jurisdictions, The GFCI raring showed good improvements for Cayman Islands, increasing its points total by 18, and the Bahamas in the Latin America area. There were also two new entrants to the GFCI; Los Angeles joined in 49
th place and Liechtenstein joined in the 60
th place.
In general, the majority of centres saw in increase in the ratings with only 11 of 84 centres declining. According to the index “The increase in ratings is driven by a nearly universal increase in average assessments given by finance professionals who are more confident than they have been in recent times. The top financial centres have performed well in GFCI 18 with only three of the top 25 dropping in the ratings.”
To access the Global Financial Centres Index 18 report, please
click here.
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