Global Financial Centres Index
The Global Financial Centres Index (GFCI) is a ranking of the competitiveness of financial centres based on over 29,000 financial centre assessments from an online questionnaire together with over 100 indices from organisations such as the World Bank, the Organisation for Economic Co-operation and Development (OECD) and the Economist Intelligence Unit. It is compiled and published twice a year by Z/Yen Group and sponsored by the Qatar Financial Centre Authority. It is widely quoted as a source for ranking financial centres.[1][2][3][4]
Ranking[edit]
The ranking is an aggregate of indices from five key areas: "business environment", "financial sector development", "infrastructure factors", "human capital", "reputation and general factors". As of September 2015, the top centres worldwide are:[5]
N.B. Los Angeles and Liechtenstein are new entries, having not been included in the GFCI 17 ranking.
Financial centre profiles[edit]
The report groups 82 of the financial centres into the following matrix:[5]
| Level | Broad & deep Global Leaders |
Relatively broad Global Diversified |
Relatively deep Global Specialists |
Emerging Global Contenders |
|---|---|---|---|---|
| Global |  Amsterdam Dublin Frankfurt Hong Kong London New York City Paris Seoul Singapore Toronto Zürich |
 Brussels |
 Beijing Dubai Luxembourg |
 Moscow |
| Level | Broad & deep Established Transnational |
Relatively broad Transnational Diversified |
Relatively deep Transnational Specialists |
Emerging Transnational Contenders |
| Transnational | Boston Chicago Geneva Istanbul Kuala Lumpur Lisbon Madrid Montreal Prague Shanghai Sydney Tokyo Vancouver Washington, D.C. |
Busan Copenhagen Los Angeles Milan Munich Stockholm |
Abu Dhabi Almaty British Virgin Islands Casablanca Cayman Islands Guernsey Jakarta Jersey Shenzhen |
Edinburgh Gibraltar |
| Level | Broad & deep Established Players |
Relatively broad Local Diversified |
Relatively deep Local Specialists |
Emerging Evolving Centres |
| Local |  Budapest Melbourne Mexico City Osaka San Francisco São Paulo Tel Aviv Vienna Warsaw |
Calgary Glasgow Oslo Rome |
 Bahamas Bahrain Bangkok Bermuda Cyprus Doha Isle of Man Johannesburg Malta Manila Mauritius Mumbai Panama Rio de Janeiro Taipei |
 Athens Dalian Helsinki Liechtenstein Monaco Reykjavik Riyadh Saint Petersburg Tallinn |
Key areas[edit]
The human capital factors summarise the availability of a skilled workforce, the flexibility of the labour market, the quality of the business education and the skill-set of the workforce, and quality of life. The business environment factors aggregate and value the regulation, tax rates, levels of corruption, economic freedom and how difficult in general it is to do business. To measure regulation an online questionnaire has been used. The financial sector development factors assess the volume and value of trading in capital markets and other financial markets, the cluster effect of the number of different financial service companies at the location, and employment and economic output indicators. The infrastructure factors account for the price and availability of office space at the location, as well as public transport. Reputation and General considers more subjective aspects such as innovation, brand appeal, cultural diversity and competitive positioning.
Industry sectors[edit]
The index provides sub-rankings in the main areas of financial services – banking, investment management, insurance, professional services, government and regulation.
References[edit]
- ^ See, for example, Yoshio Okubo, Vice Chairman, Japan Securities Dealers Association (October 2014). "Comparison of Global Financial Center". Harvard Law School, Program on International Financial Systems, Japan-U.S. Symposium. Retrieved 30 May 2015.
- ^ "New York Strips London of Mantle as World’s Top Financial Center". Bloomberg. 17 March 2014. Retrieved 30 May 2015.
- ^ "New York and London vie for crown of world’s top financial centre". The Financial Times. 1 October 2014. Retrieved 24 May 2015.
- ^ "Seoul’s Rise as a Global Financial Center". The Korea Society. 21 September 2012. Retrieved 25 May 2015.
- ^ a b "The Global Financial Centres Index 18" (PDF). Long Finance. September 2015.
|
||||||
