The 33rd edition of the Global Financial Centres Index 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.
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