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The 2024 Global Financial Centres Index 35th Edition: Top 10 Financial Centres are New York, London, Singapore, Hong Kong, San Francisco, Shanghai, Geneva, Los Angeles, Chicago & Seoul

5th April 2024 | Hong Kong

Z/Yen has released the 2024 Global Financial Centres Index (GFCI 35th Edition), providing evaluations of future competitiveness and rankings of 121 financial centres around the world.  The top financial centre in 2024 is New York, and the top 10 financial centres are New York, London, Singapore, Hong Kong, San Francisco, Shanghai, Geneva, Los Angeles, Chicago, Seoul.  The top 10 financial centres in APAC are Singapore, Hong Kong, Shanghai, Seoul, Shenzhen, Beijing, Sydney, Tokyo, Melbourne, Guangzhou.  The top 10 financial centres in Europe are London, Geneva, Frankfurt, Paris, Zurich, Luxembourg, Amsterdam, Dublin, Berlin, Edinburgh.  The top 10 financial centres in North America are New York, San Francisco, Los Angeles, Chicago, Washington DC, San Diego, Boston, Toronto, Minneapolis / St Paul, Montreal.  The top 5 financial centres in Middle East & Africa are Dubai, Abu Dhabi, Casablanca, Tel Aviv, Mauritius.  Top 10 Banking Centre: New York, London, Shanghai, Geneva, Luxembourg, Singapore, San Francisco, Shenzhen, Hong Kong, Tokyo.  Top 10 Investment Mgmt Centre: New York, London, Singapore, Hong Kong, Shenzhen, Shanghai, Geneva, San Francisco, Beijing, Copenhagen.  Top 10 Trading Centre: New York, Singapore, London, San Francisco, Los Angeles, Seoul, Tokyo, Hong Kong, Shanghai, Beijing.  GFCI 35 provides evaluations of future competitiveness and rankings for 121 financial centres around the world. The GFCI serves as a valuable reference for policy and investment decision-makers.  China Development Institute (CDI) in Shenzhen and Z/Yen Partners in London collaborate in producing the GFCI. The GFCI is updated and published every March and September, and receives considerable attention from the global financial community.  133 financial centres were researched for GFCI 35 of which 121 are in the main index. The GFCI is compiled using 145 instrumental factors. These quantitative measures are provided by third parties including the World Bank, the Economist Intelligence Unit, the OECD and the United Nations.  The instrumental factors are combined with financial centre assessments provided by respondents to the GFCI online questionnaire. GFCI 35 uses 48,365 assessments from 8,494 respondents.  See below for summary & key findings | View report here

“ Top 10 Financial Centres are New York, London, Singapore, Hong Kong, San Francisco, Shanghai, Geneva, Los Angeles, Chicago & Seoul “

 



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The 2024 Global Financial Centres Index 35th Edition: Top 10 Financial Centres are New York, London, Singapore, Hong Kong, San Francisco, Shanghai, Geneva, Los Angeles, Chicago & Seoul

New York City, United States

Z/Yen has released the 2024 Global Financial Centres Index (GFCI 35th Edition), providing evaluations of future competitiveness and rankings of 121 financial centres around the world.

 

The 2024 Global Financial Centres Index 35th Edition

Key 2024 Highlights

  • The top financial centre is New York
  • The 2nd ranked financial centre is London
  • The 3rd ranked financial centre is Singapore
  • The top 5 financial centres: New York, London, Singapore, Hong Kong, San Francisco
  • The top 10 financial centres: New York, London, Singapore, Hong Kong, San Francisco, Shanghai, Geneva, Los Angeles, Chicago, Seoul
  • 4 of the top 10 are United States cities: New York, San Francisco, Los Angeles, Chicago
  • 2 of the top 10 are China cities: Hong Kong, Shanghai
  • 2 of the top 10 are European cities: London, Geneva
  • 3 of the top 10 are in Asia-Pacific: Hong Kong, Singapore, Shanghai
  • Singapore is the top financial centre in Asia-Pacific (APAC)
  • The top 10 financial centres in APAC: Singapore, Hong Kong, Shanghai, Seoul, Shenzhen, Beijing, Sydney, Tokyo, Melbourne, Guangzhou
  • The top 10 financial centres in Europe: London, Geneva, Frankfurt, Paris, Zurich, Luxembourg, Amsterdam, Dublin, Berlin, Edinburgh
  • The top 10 financial centres in North America: New York, San Francisco, Los Angeles, Chicago, Washington DC, San Diego, Boston, Toronto, Minneapolis / St Paul, Montreal
  • The top 5 financial centres in Middle East & Africa: Dubai, Abu Dhabi, Casablanca, Tel Aviv, Mauritius

1) Top 20 Financial Centres

  1. New York
  2. London
  3. Singapore
  4. Hong Kong
  5. San Francisco
  6. Shanghai
  7. Geneva
  8. Los Angeles
  9. Chicago
  10. Seoul
  11. Shenzhen
  12. Washington DC
  13. Frankfurt
  14. Paris
  15. Beijing
  16. Zurich
  17. Luxembourg
  18. Sydney
  19. Tokyo
  20. Dubai

 

2) By Industry Sector

  • Top 10 Banking Centres: New York, London, Shanghai, Geneva, Luxembourg, Singapore, San Francisco, Shenzhen, Hong Kong, Tokyo
  • Top 10 Investment Management Centres: New York, London, Singapore, Hong Kong, Shenzhen, Shanghai, Geneva, San Francisco, Beijing, Copenhagen
  • Top 10 Trading Centres: New York, Singapore, London, San Francisco, Los Angeles, Seoul, Tokyo, Hong Kong, Shanghai, Beijing
  • Top 10 Insurance Centres: Singapore, New York, London, Shenzhen, Los Angeles, Beijing, Boston, Sydney, Washington DC, Hong Kong
  • Top 10 Finances: New York, London, Shenzhen, Chicago, Shanghai, San Francisco, Washington DC, Frankfurt, Beijing, Singapore
  • Top 10 Fintech: New York, London, Singapore, Hong Kong, Zurich, San Francisco, Seoul, Geneva, Chicago, Amsterdam
  • Top 10 Govt & Regulatory: New York, London, Singapore, Washington DC, Zurich, Tokyo, Geneva, Shanghai, San Francisco, Seoul
  • Top 10 Professional Services: New York, Singapore, London, San Francisco, Los Angeles, Seoul, Chicago, Zurich, Dubai, Geneva

 

3) By Area Of Competitiveness

  • Top 5 Business Environment – New York, Singapore, London, Beijing, Shanghai
  • Top 5 Human Capital – New York, London, Luxembourg, Singapore, Los Angeles
  • Top 5 Infrastructure – New York, London, Singapore, Shenzhen, Luxembourg
  • Top 5 Financial Sector Development – New York, Singapore, London, San Francisco, Los Angeles
  • Top 5 Reputational & General – New York, London, Singapore, Beijing, San Francisco

 

4) Top 15 Centres to Become More Significant in the 2 to 3 Years

  1. Seoul
  2. Singapore
  3. Dubai
  4. Hong Kong 
  5. London
  6. Shanghai
  7. Busan
  8. New York
  9. Casablanca
  10. Kigali
  11. Abu Dhabi
  12. Paris
  13. Beijing
  14. GIFT CITY – GUJARAT
  15. Shenzhen

 

5) 2024 Top Global Financial Centres Ranking

Cities Rank
2023
1 New York 1 1
2 London 2 2
3 Singapore 3 3
4 Hong Kong 4 4
5 San Francisco 5 5
6 Shanghai 6 7
7 Geneva 7 10
8 Los Angeles 8 6
9 Chicago 9 9
10 Seoul 10 11
11 Shenzhen 11 12
12 Washington DC 12 8
13 Frankfurt 13 14
14 Paris 14 15
15 Beijing 15 13
16 Zurich 16 18
17 Luxembourg 17 16
18 Sydney 18 22
19 Tokyo 19 20
20 Dubai 20 21
21 San Diego 21 27
22 Boston 22 17
23 Toronto 23 30
24 Amsterdam 24 19
25 Dublin 25 25
26 Minneapolis / St Paul 26 28
27 Busan 27 33
28 Melbourne 28 39
29 Guangzhou 29 29
30 Montreal 30 38
31 Qingdao 31 32
32 Berlin 32 23
33 Edinburgh 33 34
34 Calgary 34 41
35 Lugano 35 47
36 Munich 36 26
37 Abu Dhabi 37 35
38 Miami 38 24
39 Copenhagen 39 31
40 Jersey 40 52
41 Wellington 41 56
42 Glasgow 42 51
43 Chengdu 43 44
44 Stuttgart 44 46
45 Atlanta 45 36
46 Vancouver 46 37
47 Osaka 47 43
48 Tel Aviv 48 57
49 Reykjavik 49 63
50 Stockholm 50 40
51 Hamburg 51 49
52 Madrid 52 48
53 Oslo 53 42
54 Rome 54 55
55 Milan 55 45
56 Casablanca 56 54
57 GIFT City-Gujarat 57 62
58 Mumbai 58 66
59 Dalian 59 64
60 Brussels 60 53
61 Mauritius 61 68
62 Helsinki 62 50
63 Nanjing 63 65
64 Liechtenstein 64 70
65 Tianjin 65 69
66 Astana 66 60
67 Kigali 67 81
68 Isle of Man 68 59
69 Guernsey 69 58
70 Malta 70 71
71 Hangzhou 71 76
72 Vienna 72 61
73 Taipei 73 67
74 Lisbon 74 73
75 New Delhi 75 77
76 Bahrain 76 74
77 Kuala Lumpur 77 80
78 Gibraltar 78 85
79 Cayman Islands 79 72
80 Kuwait City 80 82
81 Tallinn 81 87
82 Johannesburg 82 83
83 Cape Town 83 91
84 Riyadh 84 75
85 Sao Paulo 85 106
86 Prague 86 79
87 Barbados 87 98
88 Doha 88 78
89 Monaco 89 84
90 Xi’an 90 94
91 Wuhan 91 100
92 Santiago 92 88
93 Bangkok 93 86
94 Rio de Janeiro 94 104
95 Nairobi 95 90
96 Warsaw 96 92
97 Cyprus 97 93
98 Almaty 98 109
99 Riga 99 89
100 Lagos 100 103
101 Manila 101 102
102 Jakarta 102 95
103 Vilnius 103 97
104 Sofia 104 101
105 Athens 105 96
106 Bermuda 106 108
107 British Virgin Islands 107 99
108 Ho Chi Minh City 108 120
109 Mexico City 109 113
110 Istanbul 110 110
111 Bahamas 111 105
112 Tehran 112 115
113 Budapest 113 107
114 Trinidad & Tobago 114 119
115 Panama 115 111
116 Bratislava 116 112
117 Bogota 117 117
118 Moscow 118 114
119 Baku 119 116
120 St Petersburg 120 118
121 Buenos Aires 121 121

 

 

6) Top 15 Financial Centres – Asia-Pacific

Cities Rank
Global
1 Singapore 1 3
2 Hong Kong 2 4
3 Shanghai 3 6
4 Seoul 4 10
5 Shenzhen 5 11
6 Beijing 6 15
7 Sydney 7 18
8 Tokyo 8 19
9 Busan 9 27
10 Melbourne 10 28
11 Guangzhou 11 29
12 Qingdao 12 31
13 Wellington 13 41
14 Chengdu 14 43
15 Osaka 15 47

 

 

7) Top 15 Financial Centres – Western Europe

Cities Rank
Global
1 London 1 2
2 Geneva 2 7
3 Frankfurt 3 13
4 Paris 4 14
5 Zurich 5 16
6 Luxembourg 6 17
7 Amsterdam 7 24
8 Dublin 8 25
9 Berlin 9 32
10 Edinburgh 10 33
11 Lugano 11 35
12 Munich 12 36
13 Copenhagen 13 39
14 Jersey 14 40
15 Glasgow 15 42

 

 

8) Top 10 Financial Centres – North America

Cities Rank
Global
1 New York 1 1
2 San Francisco 2 5
3 Los Angeles 3 8
4 Chicago 4 9
5 Washington DC 5 12
6 San Diego 6 21
7 Boston 7 22
8 Toronto 8 23
9 Minneapolis / St Paul 9 26
10 Montreal 10 30

 

 

9) Top 10 Financial Centres – Middle East & Africa

Cities Rank
Global
1 Dubai 1 20
2 Abu Dhabi 2 37
3 Casablanca 3 56
4 Tel Aviv 4 48
5 Mauritius 5 61
6 Bahrain 6 76
7 Riyadh 7 84
8 Doha 8 88
9 Kigali 9 67
10 Kuwait City 10 80

 

 

The Global Financial Centres Index 35

The thirty-fifth edition of the Global Financial Centres Index (GFCI 35) was published on 21 March 2024. GFCI 35 provides evaluations of future competitiveness and rankings for 121 financial centres around the world. The GFCI serves as a valuable reference for policy and investment decision-makers.  China Development Institute (CDI) in Shenzhen and Z/Yen Partners in London collaborate in producing the GFCI. The GFCI is updated and published every March and September, and receives considerable attention from the global financial community.  133 financial centres were researched for GFCI 35 of which 121 are in the main index. The GFCI is compiled using 145 instrumental factors. These quantitative measures are provided by third parties including the World Bank, the Economist Intelligence Unit, the OECD and the United Nations.  The instrumental factors are combined with financial centre assessments provided by respondents to the GFCI online questionnaire. GFCI 35 uses 48,365 assessments from 8,494 respondents.

Z/Yen is the City of London’s leading commercial think-tank, founded in 1994 to promote societal advance through better finance and technology. Z/Yen has built its practice around a core of high- powered project managers, supported by experienced technical specialists so that clients get expertise they need, rather than just resources available.   In March 2007, Z/Yen and the City Of London released the first edition of the GFCI, which continues to provide evaluations of competitiveness and rankings for the major financial centres around the world. We are pleased to present the thirty-fifth edition of the Global Financial Centres Index (GFCI 35).   In July 2016, Z/Yen and the China Development Institute (CDI) in Shenzhen established a strategic partnership for research into financial centres. We continue our collaboration in producing the GFCI. The GFCI is updated every March and September and receives considerable attention from the global financial community. The index serves as a valuable reference for policy and investment decisions.  The China Development Institute (CDI)is a leading national think-tank that develops solutions to public policy challenges through broad-scope and in-depth research to help advance China’s reform and opening-up to world markets. The CDI has been working on the promotion and development of China’s financial system since its establishment in 1989. Based on rigorous research and objective analysis, CDI is committed to providing innovative and pragmatic reports for governments at different levels in China and corporations at home and abroad. 




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