New York has once again taken the top spot in the list of the world’s largest financial centers, according to a survey by Z/Yen Group, a financial consulting company that calculates the Global Financial Centers Index (GFCI).
New York overtook London in the ranking in the fall of 2018 and has maintained its leadership since then.
Compared to the previous version of the ranking, published in March this year, New York’s score increased to 763 from 760, and London’s, which ranks second, to 744 from 731.
The top three is still closed by Singapore, which added 19 points. Hong Kong is in fourth place, showing similar dynamics. San Francisco, Los Angeles and Shanghai follow.
In contrast to the March edition, Washington, D.C., took eighth place, displacing Chicago by one position and moving up three places at once.
Geneva became a debutant in the top 10 financial centers of the world this year: the capital of the Swiss canton of the same name soared 13 places, increasing the number of points scored by 29.
Dublin showed even more rapid growth, moving from 48th to 25th place.
Moscow (114th place) experienced the sharpest drop in the ranking – by 35 positions. St. Petersburg, for its part, dropped from 115th to 118th place. Among the financial centers of Eastern Europe and Central Asia, Astana is the leader (60th place, +48 points).
In September, Miami entered the list for the first time, ranking 24th.
Among the financial centers that could increase their influence in the next two to three years, the respondents to the Z/Yen Group survey most often named Seoul, Singapore and Dubai.
The World Financial Centers Index was first published in 2007 and is updated every six months (the current edition is the 34th). The ranking is based on various statistics and surveys.
