Global Financial Centres Index

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The Global Financial Centres Index is a ranking of the competitiveness of financial centres based on over 29,000 financial centre assessments from an online questionnaire together with over 100 indices from organisations such as the World Bank, the Organisation for Economic Co-operation and Development (OECD) and the Economist Intelligence Unit. It is compiled and published twice a year by Z/Yen Group and sponsored by the Qatar Financial Centre Authority. It is widely quoted as a source for ranking financial centres.[1][2][3][4]

Ranking[edit]

The ranking is an aggregate of indices from five key areas: "business environment", "financial sector development", "infrastructure factors", "human capital", "reputation and general factors". As of March 2015, the top centres worldwide are:[5]

  • Note: Buenos Aires (ARG), Guernsey (CD), and Wellington (NZL) were deleted for this March 2015 rankings list. Dalian (CHN) was added for the first time.

Financial centre profiles[edit]

The report groups 82 of the financial centres into the following matrix:[5]

Level Broad & deep
Global Leaders
Relatively broad
Global Diversified
Relatively deep
Global Specialists
Emerging
Global Contenders
Global Germany Frankfurt
Hong Kong Hong Kong
United Kingdom London
United States New York City
South Korea Seoul
Singapore Singapore
Japan Tokyo
Canada Toronto
Switzerland Zürich
Netherlands Amsterdam
Belgium Brussels
Republic of Ireland Dublin
France Paris
China Beijing
United Arab Emirates Dubai
Switzerland Geneva
Luxembourg Luxembourg
Russia Moscow
Level Broad & deep
Established Transnational
Relatively broad
Transnational Diversified
Relatively deep
Transnational Specialists
Emerging
Transnational Contenders
Transnational United States Boston
South Korea Busan
United States Chicago
Canada Montreal
China Shanghai
Australia Sydney
United States Washington, D.C.
Denmark Copenhagen
Qatar Doha
Turkey Istanbul
Malaysia Kuala Lumpur
Spain Madrid
Italy Milan
Czech Republic Prague
United Arab Emirates Abu Dhabi
British Virgin Islands British Virgin Islands
Morocco Casablanca
China Shenzhen
Bahrain Bahrain
Cayman Islands Cayman Islands
United Kingdom Edinburgh
Gibraltar Gibraltar
Indonesia Jakarta
Jersey Jersey
Level Broad & deep
Established Players
Relatively broad
Local Diversified
Relatively deep
Local Specialists
Emerging
Evolving Centres
Local South Africa Johannesburg
Australia Melbourne
Germany Munich
Japan Osaka
United States San Francisco
Sweden Stockholm
Israel Tel Aviv
Canada Vancouver
Austria Vienna
Greece Athens
Thailand Bangkok
Hungary Budapest
Portugal Lisbon
Mexico Mexico City
Norway Oslo
Italy Rome
Brazil São Paulo
Poland Warsaw
Canada Calgary
China Dalian
Saudi Arabia Riyadh
Taiwan Taipei
Kazakhstan Almaty
The Bahamas The Bahamas
Bermuda Bermuda
Cyprus Cyprus
United Kingdom Glasgow
Guernsey Guernsey
Finland Helsinki
Isle of Man Isle of Man
Malta Malta
Philippines Manila
Mauritius Mauritius
Monaco Monaco
India Mumbai
Panama Panama
Iceland Reykjavik
Brazil Rio de Janeiro
Russia Saint Petersburg
Estonia Tallinn

Key areas[edit]

The human capital factors summarise 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 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 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. The infrastructure factors account for the price and availability of office space at the location, as well as public transport. Reputation and General considers more subjective aspects such as innovation, brand appeal, cultural diversity and competitive positioning.

Industry sectors[edit]

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

References[edit]

  1. ^ See, for example, Yoshio Okubo, Vice Chairman, Japan Securities Dealers Association (October 2014). "Comparison of Global Financial Center". Harvard Law School, Program on International Financial Systems, Japan-U.S. Symposium. Retrieved 30 May 2015. 
  2. ^ "New York Strips London of Mantle as World’s Top Financial Center". Bloomberg. 17 March 2014. Retrieved 30 May 2015. 
  3. ^ "New York and London vie for crown of world’s top financial centre". The Financial Times. 1 October 2014. Retrieved 24 May 2015. 
  4. ^ "Seoul’s Rise as a Global Financial Center". The Korea Society. 21 September 2012. Retrieved 25 May 2015. 
  5. ^ a b "The Global Financial Centres Index 17" (PDF). Long Finance. March 2015.