The Global Financial Centres Index (GFCI) is a ranking of the competitiveness of

financial centre A financial centre ( BE), financial center ( AE), or financial hub, is a location with a concentration of participants in banking, asset management, insurance or financial markets with venues and supporting services for these activities to ta ...

s 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 World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Inte ...

, the

Organisation for Economic Co-operation and Development The Organisation for Economic Co-operation and Development (OECD; french: Organisation de coopération et de développement économiques, ''OCDE'') is an intergovernmental organisation with 38 member countries, founded in 1961 to stimulate ...

(OECD), and the

Economist Intelligence Unit The Economist Intelligence Unit (EIU) is the research and analysis division of the Economist Group, providing forecasting and advisory services through research and analysis, such as monthly country reports, five-year country economic forecasts, ...

. The first index was published in March 2007. It has been jointly published twice per year by Z/Yen Group in

London London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...

and the China Development Institute in

Shenzhen Shenzhen (; ; ; ), also historically known as Sham Chun, is a major sub-provincial city and one of the special economic zones of China. The city is located on the east bank of the Pearl River estuary on the central coast of southern provi ...

since 2015, and is widely quoted as a top source for ranking financial centres.

GFCI31 (2022)

The thirty-first edition of the Global Financial Centres Index (GFCI 31) was published on 24 March 2022. GFCI 31 provides evaluations of future competitiveness and rankings for 119 financial centres around the world. Rankings are based on surveys and 150 factors, with quantitative measures from the World Bank, The Economist Intelligence Unit, the OECD and United Nations.https://www.longfinance.net/programmes/financial-centre-futures/global-financial-centres-index/gfci-publications/global-financial-centres-index-31/ 24 March 2022 The 2022 report ranks New York at the top position followed by London and Hong Kong. N.B.

Atlanta Atlanta ( ) is the capital and most populous city of the U.S. state of Georgia. It is the seat of Fulton County, the most populous county in Georgia, but its territory falls in both Fulton and DeKalb counties. With a population of 498,7 ...

Lugano Lugano (, , ; lmo, label= Ticinese, Lugan ) is a city and municipality in Switzerland, part of the Lugano District in the canton of Ticino. It is the largest city of both Ticino and the Italian-speaking southern Switzerland. Lugano has a populat ...

and

Ho Chi Minh City , population_density_km2 = 4,292 , population_density_metro_km2 = 697.2 , population_demonym = Saigonese , blank_name = GRP (Nominal) , blank_info = 2019 , blank1_name = – Total , blank1_ ...

are the latest new entries, having not been included in the GFCI 30 ranking.

GFCI30 (2021)

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 24, 2021, the top centres worldwide are: N.B. Kigali and Lagos are the latest new entries, having not been included in the GFCI 29 ranking.

Financial centre profiles

This report ranked 116 international financial centers into the following matrix, as of 24 September 2021:

Top 15 centres by area of competitiveness

This is run for five separate areas of competitiveness to assess how financial centres perform in each of the areas GFCI 25 (2021 March).

Top 15 centres by industry sector

This creates separate sub-indices: banking, investment management, insurance, professional services, and government and regulatory sectors for GFCI 25 (2019 March) .

Key areas

The ''human capital'' factors summarize the availability of a skilled

workforce The workforce or labour force is a concept referring to the pool of human beings either in employment or in unemployment. It is generally used to describe those working for a single company or industry, but can also apply to a geographic reg ...

, the flexibility of the labour market, the quality of the

business education Business education is a branch of education that involves teaching the skills and operations of the business industry. This field of education occurs at multiple levels, including secondary and higher education Secondary education At secondary l ...

and the skill-set of the workforce, and

quality of life Quality of life (QOL) is defined by the World Health Organization as "an individual's perception of their position in life in the context of the culture and value systems in which they live and in relation to their goals, expectations, standards ...

. The ''business environment'' factors aggregate and value the

regulation Regulation is the management of complex systems according to a set of rules and trends. In systems theory, these types of rules exist in various fields of biology and society, but the term has slightly different meanings according to context. ...

, tax rates, levels of

corruption Corruption is a form of dishonesty or a criminal offense which is undertaken by a person or an organization which is entrusted in a position of authority, in order to acquire illicit benefits or abuse power for one's personal gain. Corruption m ...

economic freedom Economic freedom, or economic liberty, is the ability of people of a society to take economic actions. This is a term used in economic and policy debates as well as in the philosophy of economics. One approach to economic freedom comes from the l ...

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 A capital market is a financial market in which long-term debt (over a year) or equity-backed securities are bought and sold, in contrast to a money market where short-term debt is bought and sold. Capital markets channel the wealth of savers ...

and other

financial markets A financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities include stocks and bonds, raw materials and precious metals, which are known in the financial ma ...

, the

cluster effect A business cluster is a geographic concentration of interconnected businesses, suppliers, and associated institutions in a particular field. Clusters are considered to increase the productivity with which companies can compete, nationally and gl ...

of the number of different financial service companies at the location, and

employment Employment is a relationship between two parties regulating the provision of paid labour services. Usually based on a contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any o ...

and

economic output Output in economics is the "quantity of goods or services produced in a given time period, by a firm, industry, or country", whether consumed or used for further production. The concept of national output is essential in the field of macroecono ...

indicators. The ''infrastructure'' factors account for the price and availability of office space at the location, as well as

public transport Public transport (also known as public transportation, public transit, mass transit, or simply transit) is a system of transport for passengers by group travel systems available for use by the general public unlike private transport, typi ...

. ''Reputation and general'' considers more subjective aspects such as

innovation Innovation is the practical implementation of ideas that result in the introduction of new goods or services or improvement in offering goods or services. ISO TC 279 in the standard ISO 56000:2020 defines innovation as "a new or changed enti ...

, brand appeal, cultural diversity and competitive positioning.

Industry sectors

The index provides sub-rankings in the main areas of financial services –

banking A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

investment management Investment management is the professional asset management of various securities, including shareholdings, bonds, and other assets, such as real estate, to meet specified investment goals for the benefit of investors. Investors may be instit ...

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...

professional services Professional services are occupations in the service sector requiring special training in the arts or sciences. Some professional services, such as architects, accountants, engineers, doctors, and lawyers require the practitioner to hold prof ...

government A government is the system or group of people governing an organized community, generally a state. In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government i ...

and

References

Financial markets Lists of cities Finance lists

External links

* {{Youtube, FZv-Ny863VE, "Launch Of The Global Financial Centres Index 32"