London Maintains Top Position in Latest Global Financial Centers Index

According to the latest survey, conducted by the Financial Center Futures team at the London based Z/Yen Group, London, New York, Hong Kong and Singapore remain the top four centers

The GFIC’s top 10 financial centers and their scores were listed as follows:
1st LONDON 807
2nd NEW YORK 787
3rd HONG KONG 761
5th ZURICH 723
6th TOKYO 718
7th GENEVA 712
8th BOSTON 711
9th SEOUL 710
10th FRANKFURT 703

The GFCI, which has been published since 2007, is sponsored by the Qatar Financial Centre Authority. It rates 79 financial centers on a scale of 1 to 1,000, using 23,043 financial center assessments completed by 2,379 financial services professionals.

The report notes that “Hong Kong and Singapore are now only two points apart. There is a 48 point spread between London in first place and Singapore in fourth and then a gap of 3 points to Zurich in 5th place.

“Zurich and Geneva confirm their position in the GFCI top ten. Frankfurt and Paris rise significantly and have closed the gap on London a little. Luxembourg, Vienna, Milan and Rome also show improvements.

“Other European centers are still affected by the euro zone crisis. Lisbon, Reykjavik, Budapest and Athens decline, and remain at the bottom of the GFCI rankings.

“All Asian financial centers, except Beijing, see their ratings improve. Kuala Lumpur, Singapore and Tokyo experience the strongest rises in the region.

“American centers see their ratings improve, although Chicago, Toronto and San Francisco fall slightly in the ranks. Boston enters the GFCI top ten, climbing to 8th place. Sao Paulo and Rio de Janeiro are now in the GFCI top 50 and Buenos Aires makes a significant gain.

“Offshore centers continue to gain ground. Jersey and Guernsey remain the leading centers followed by Monaco which ranks 35th, up 25 places.”

Source: Global Financial Center Index