2024 Top Financial Centres in the World

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2024 Top Financial Centres in the World

5th April 2024 | Hong Kong

Which are the top financial centres in the world in 2024?  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 key highlights and full ranking. | 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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2024 Top Financial Centres in the World 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
  • New York
  • London
  • Singapore
  • Hong Kong
  • San Francisco
  • Shanghai
  • Geneva
  • Los Angeles
  • Chicago
  • Seoul
  • Shenzhen
  • Washington DC
  • Frankfurt
  • Paris
  • Beijing
  • Zurich
  • Luxembourg
  • Sydney
  • Tokyo
  • 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
  • Seoul
  • Singapore
  • Dubai
  • Hong Kong 
  • London
  • Shanghai
  • Busan
  • New York
  • Casablanca
  • Kigali
  • Abu Dhabi
  • Paris
  • Beijing
  • GIFT CITY – GUJARAT
  • 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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