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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. The first index was published in March 2007. It has been jointly published twice per year by Z/Yen Group in London and the China Development Institute in Shenzhen since 2015,[1] and is widely quoted as a source for ranking financial centres.[2][3][4][5]

Contents

RankingEdit

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 12, 2019, the top centres worldwide are:[6]

N.B. Stuttgart, Kuwait City, and Nairobi are the latest new entries, having not been included in the GFCI 24 ranking. Trinidad and Tobago was omitted from this GFCI 25 (current) ranking.

Financial centre profilesEdit

This report ranked 102 international financial centers into the following matrix, as of 12 March 2019:[6]

Level Broad & deep
Global Leaders
Relatively broad
Global Diversified
Relatively deep
Global Specialists
Emerging
Global Contenders
Global   Abu Dhabi
  Beijing
  Chicago
  Dubai
  Hong Kong
  London
  Los Angeles
  New York City
  Shanghai
  Singapore
  Sydney
  Tokyo
  Toronto
  Zürich
  Amsterdam
  Brussels
  Dublin
  Frankfurt
  Milan
  Paris
  San Francisco
  Nur-Sultan
  Luxembourg
  Qingdao
  Shenzhen
  Washington, D.C.
  Chengdu
  Moscow
Level Broad & deep
Established International
Relatively broad
International Diversified
Relatively deep
International Specialists
Emerging
International Contenders
International   Boston
  Calgary
  Geneva
  Hamburg
  Kuala Lumpur
  Madrid
  Melbourne
  Montreal
  Munich
  Seoul
  Stuttgart
  Vancouver
  Athens
  Bangkok
  Copenhagen
  Edinburgh
  Istanbul
  Johannesburg
  Rome
  Stockholm
  Vienna
  Almaty
  Bermuda
  Busan
  Casablanca
  Cayman Islands
  GIFT City-Gujarat
  Guangzhou
  Guernsey
  Jersey
  Rio de Janeiro
  Taipei
  British Virgin Islands
  Buenos Aires
  Dalian
  Doha
  Hangzhou
  Jakarta
  Malta
  New Delhi
Level Broad & deep
Established Players
Relatively broad
Local Diversified
Relatively deep
Local Specialists
Emerging
Evolving Centres
Local   Budapest
  Mexico City
  Osaka
  Prague
  Wellington
  Glasgow
  Helsinki
  Lisbon
  Oslo
  Tel Aviv
  Warsaw
  Bahamas
  Baku
  Cape Town
  Isle of Man
  Kuwait City
  Liechtenstein
  Monaco
  Panama
  Riga
  São Paulo
  Sofia
  Saint Petersburg
  Bahrain
  Cyprus
  Gibraltar
  Manila
  Mauritius
  Mumbai
  Nairobi
  Reykjavik
  Riyadh
  Tallinn
  Tianjin

Key areasEdit

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 sectorsEdit

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

ReferencesEdit

  1. ^ https://www.longfinance.net/publications/long-finance-reports/the-global-financial-centres-index-20/
  2. ^ 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.CS1 maint: Multiple names: authors list (link)
  3. ^ "New York Strips London of Mantle as World's Top Financial Center". Bloomberg L.P. 17 March 2014. Retrieved 30 May 2015.
  4. ^ "New York and London vie for crown of world's top financial centre". The Financial Times (subscription required). 1 October 2014. Retrieved 24 May 2015.
  5. ^ "Seoul's Rise as a Global Financial Center". The Korea Society. 21 September 2012. Retrieved 25 May 2015.
  6. ^ a b "The Global Financial Centres Index 25" (PDF). Long Finance. March 2019. Retrieved 21 April 2019.