The Z/Yen Group has published the fourteenth Global Financial Centres Index (GFCI14), sponsored by the Qatar Financial Centre Authority and rating 80 financial centres on the scale of 1 to 1000.
The main points are:
London, New York, Hong Kong and Singapore remain the top four centres with a gap of 43 points between London in first and Singapore in fourth. There is then a gap of 31 points to Tokyo in fifth place. The top four centres have seen their ratings decline slightly. London's ratings have fallen by more than any other centre in the top 25.
Frankfurt, Zurich and Geneva remain in the GFCI top ten and Luxembourg has climbed five places to 13th. Most of the remaining financial centres in Europe are still suffering from uncertainty in the Eurozone. Paris is down by 14 points, Munich by 16, Amsterdam by 26, Milan by 34, Madrid by 28 and Brussels by 44 points. Lisbon and Athens also fall and Athens remains at the bottom of the index.
There is a mixed picture from Asia with Tokyo, Sydney, Shanghai and Shenzhen all climbing in the ratings but other centres including Hong Kong, Singapore, Seoul and Beijing all losing points.
There is another mixed picture in North America with Boston and San Francisco each climbing by one place but New York, Chicago and Washington DC falling slightly. With the exception of Toronto, the Canadian centres all saw slight reversals to the rapid rises they have shown recently.
Latin America continues to grow in importance with Rio de Janeiro, Sao Paulo and Buenos Aires all climbing in the ranks. Rio de Janeiro in particular performed well and climbed 17 places.
In the Middle East, Qatar, Bahrain and Istanbul see significant increases in their rankings whilst other centres fall slightly.
Mark Yeandle, Associate Director of the Z/Yen Group and the leading author of the GFCI, said:
'The top centres continue to dominate, but London and many Eurozone centres lose ground to emerging centres like Rio de Janeiro and Sao Paulo'.
GFCI 14 Top Ten - Centres
1. London - 794
2. New York - 779
3. Hong Kong - 759
4. Singapore - 751
5. Tokyo - 720
6. Zurich - 718
7. Boston - 714
8. Geneva - 710
9. Frankfurt - 702
10. Seoul - 701
image: © Satoru Kikuchi