Global Financial Centres Index

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The Global Financial Centres Index (GFCI) 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]


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 September 2016, the top centres worldwide are:[5][6]

N.B. Trinidad and Tobago is the latest new entry, having not been included in the GFCI 19 ranking.

Financial centre profiles[edit]

The report groups 87 of the financial centres into the following matrix:[5] Note: This section will be updated in the GFCI 22 set of rankings.

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

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.


  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 20". Long Finance. September 2016. 
  6. ^ "GFCI 20 Overall Rankings". Long Finance. September 2016.