The Z/Yen Group has published the thirteenth Global Financial Centres Index (GFCI 13), sponsored by the Qatar Financial Centre Authority and rating 79 financial centres on a scale of 1 to 1,000.
The main stories are:
London, New York, Hong Kong and Singapore remain the top four centres. Hong Kong and Singapore are now only two points apart. There is a 48 point spread between London in first place and Singapore in fourth and then a gap of 3 points to Zurich in 5th place.
Zurich and Geneva confirm their position in the GFCI top ten. Frankfurt and Paris rise significantly and have closed the gap on London a little. Luxembourg, Vienna, Milan and Rome also show improvements.
Other European centres are still affected by the Eurozone crisis. Lisbon, Reykjavik, Budapest and Athens decline, and remain at the bottom of the GFCI rankings.
All Asian financial centres except Beijing see their ratings improve. Kuala Lumpur, Singapore and Tokyo experience the strongest rises in the region.
American centres see their ratings improve although Chicago, Toronto and San Francisco fall slightly in the ranks. Boston enters the GFCI top ten, climbing to 8th place. Sao Paulo and Rio de Janeiro are now in the GFCI top 50 and Buenos Aires makes a significant gain.
Offshore centres continue to gain ground. Jersey and Guernsey remain the leading centres followed by Monaco which ranks 35th, up 25 places.
Mark Yeandle, Associate Director of the Z/Yen Group and the leading author of the GFCI, said:
'We have seen an overall increase in average ratings since July 2012 - this signifies an increase in confidence in financial centres'.
The Top 10
2. New York
3. Hong Kong
image: © Satoru Kikuchi