GFCI 35 Headlines
- The 35th edition of the Global Financial Centres Index (GFCI 35) was published today by Z/Yen Group in partnership with the China Development Institute (CDI). The launch webinar for GFCI 35 linked London and Casablanca with contributions from the Casablanca Finance City Authority.
- New York held onto the top position in the index and has now been in first place since GFCI 24, published in September 2018.
- London remains second, ahead of Singapore in third place, which has maintained its slight lead over Hong Kong in fourth position.
- San Francisco remains at number five, with Shanghai overtaking Los Angeles in sixth place, and the latter dropping to eighth.
- Geneva climbed to seventh, with Chicago stable in ninth, and Seoul re-entered the top 10 in 10th place.
- In the top 20 ranked centres, none changed more or less than 4 rank places. This suggests no major changes in the economic outlook across the leading economies in the world.
- The average rating of centres in the index rose 1.62% compared with GFCI 34, suggesting continued confidence in the financial sector, with the average rating for centres in Latin America & The Caribbean up 3.35% and in the Middle East & Africa up 2.16%.
- Continuing professional development has been identified as the most important strategy in ensuring the future strength of talent in the financial sector.
- New York retains its leading position in the Fintech ranking, followed by London, then San Francisco. Shenzhen maintains its fourth place in the table and Washington DC moved ahead to fifth place overtaking Singapore.
- Seoul has joined Los Angeles, Singapore, Shanghai, and Chicago in the top 10 FinTech centres, replacing Beijing which has slipped to 11th position.
The top 20 centres in GFCI 35 are shown in the table below:
Full details of GFCI 35 can be found at www.globalfinancialcentres.net.
The Rt Hon The Lord Mayor Of London, Alderman Professor Michael Mainelli [on sabbatical from being Chairman of Z/Yen], said: “Confidence in leading international financial centres remains strong, and the top 10 centre rivalry continues. The leading financial centres improved or maintained their ranking in GFCI 35, with a high degree of stability in the rankings. The improvement in ratings in Latin America & The Caribbean and in the Middle East & Africa shows the continuing development of emerging economies in financial services.”
Said Ibrahimi, CEO, Casablanca Finance City Authority, said: “As we navigate the complexities of a rapidly changing global economy, it is imperative that financial centres embrace innovation, sustainability, and collaboration to unlock their full potential. By fostering partnerships, promoting transparency, and embracing technology, we can harness the power of financial services to drive inclusive growth, empower entrepreneurs, and create opportunities for all segments of society.”
