The US Dominates With Five Top 10 Financial Centres

GFCI 33 Headlines

• The 33rd edition of the Global Financial Centres Index (GFCI 33) was published today by Z/Yen Group in partnership with the China Development Institute (CDI). The launch webinar for GFCI 33 took place on a live link between London and Mauritius.
• New York held onto the top position in the index and has been in first place since GFCI 24, published in September 2018.
• London, Singapore, and Hong Kong remain in second, third, and fourth position, with San Francisco close behind.
• Chicago, Boston, and Seoul entered the top 10, displacing Paris, Shenzhen, and Beijing.
• The average rating of centres in the index was close to the average in GFCI 32, just 0.06% lower. However, within this average, 31 out of the top 40 centres in the index fell in the ratings, while half of the centres in the bottom half of the index improved their rating, perhaps indicating a shift to more regional centres ahead.
• While there is considerable variation across centres, the index suggests that confidence in financial centres and the world economy remains high, with a recognition that inflation levels are falling and economic growth generally secure, even with the instability caused by the continuing war in Ukraine.
• US centres performed well, with five US centres now in the top 10, reflecting the strength of the US economy. Leading Chinese centres fell back a little.
• London retains its second place position in the index, despite some predictions of a downturn, suggesting that London’s reputation in financial services remains competitive.
• New York retains its leading position in the Fintech ranking, followed by San Francisco. London moved up one place to third. Shenzhen rose three places to fourth.
• Los Angeles, Boston, Chicago, and Shanghai continue to feature in the top 10, while Singapore and Washington enter the top 10 for FinTech, displacing Beijing and Hong Kong.

The top 20 centres in GFCI 33 are shown in the table below.

Full details of GFCI 33 can be found at www.globalfinancialcentres.net.

Professor Michael Mainelli, Chairman of Z/Yen, said:

“The strength of US finance shows through in the latest edition of the Global Financial Centres Index. New York retains a significant first position, and five other US centres are in the top 10. London has maintained its position, showing its strengths in finance, despite Brexit and other politically-induced uncertainties. There are some indications of moves towards regional centres, but overall confidence levels remain high.”

ENDS

Information For Editors

About GFCI 33

GFCI 33 rates 120 financial centres across the world combining assessments from financial professionals with quantitative data which form instrumental factors.

GFCI 33 uses 61,449 financial centre assessments collected from 10,252 financial services professionals who responded to the GFCI online questionnaire. The GFCI is updated regularly, and ratings change as assessments and instrumental factors change.

To find out more about sponsorship opportunities, joining the Vantage Financial Centres network, further research, and bespoke reports on individual financial centres, please contact us.

Previous Editions

Previous editions of the GFCI can be accessed at www.longfinance.net/programmes/financialcentrefutures/global-financial-centres-index/publications.html

Long Finance

The GFCI is part of the Long Finance initiative (www.longfinance.net), which undertakes research programmes on Financial Centre Futures, Sustainable Futures, Distributed Futures, Eternal Coin, and Meta-Commerce. Please get in touch for more details on Long Finance.

Contact

For more information please email Mike Wardle at mike_wardle@zyen.com or by phone on +44 (0) 7880 737319.