World Financial Hubs



Top-10-World-Financial-Hub

London, the capital of the United Kingdom, is one of the oldest financial centers in the world. Since the 19th century, it has been one of the leading global financial centers. London maintained its position in the 21st century and according to the 2016 Global Financial Center Index, it occupies the first spot in the list of the top ten financial hubs in the world. But, with the United Kingdom opting for Brexit, it remains to be seen what impact will this development have on the future prospects of London.

New York City closely follows London as one of the top financial hubs of the world. The two largest stock exchanges in the world are located in the New York City and these include NYSE and NASDAQ. New York City is also home to several investment banks and investment managers and other financial institutes. Standard and Poor’s, Moody’s Investor Service, and Fitch Ratings, which are the three top global credit rating agencies, are either headquartered or co-headquartered in the New York City.

Singapore has emerged as one of the best global financial centers, and according to 2016 GFCI occupies the third place. Singapore has edged out Hong Kong which is at the fourth spot. Hong Kong was a former British territory and is today home to most of the 100 largest banks in the world.

Tokyo occupies the fifth place. The city emerged as a major financial hub during the ’80s and today, shares good links with London and New York City. On the sixth place is the Swiss city of Zurich, which is a significant center for banking and asset management. The seventh, eight and ninth spots are again occupied by US cities of Washington DC, San Francisco and Boston indicating the importance of the nation in the world economic arena.

The Canadian city of Toronto, which has bagged the 10th position, is one of the fastest growing financial centers. The city is a top market for large insurance companies and financial institutions.

Global Financial Centre Index, March 2016
City Rank GFCI 19 Rank
London 1 800
New York 2 792
Singapore 3 755
Hong Kong 4 753
Tokyo 5 728
Zurich 6 714
Washington DC 7 712
San Francisco 8 711
Boston 9 709
Toronto 10 707
Chicago 11 706
Seoul 12 705
Dubai 13 699
Luxembourg 14 698
Geneva 15 694
Shanghai 16 693
Sydney 17 692
Frankfurt 18 689
Shenzhen 19 688
Osaka 20 687
Montreal 21 686
Vancouver 22 684
Beijing 23 682
Taipei 24 677
Tel Aviv 25 676
Abu Dhabi 26 675
Munich 27 672
Calgary 28 671
Los Angeles 29 670
Melbourne 30 669
Dalian 31 668
Paris 32 667
Casablanca 33 665
Amsterdam 34 664
Doha 35 652
Kuala Lumpur 36 649
Stockholm 37 648
Busan 38 644
Dublin 39 643
Vienna 40 642
Cayman Islands 41 641
Mumbai 42 640
Sao Paulo 43 639
Rio de Janeiro 44 637
Istanbul 45 636
British Virgin Islands 46 635
Bangkok 47 633
Warsaw 48 631
Copenhagen 49 630
Bermuda 50 629

Source: longfinance.net

Last Updated: 12th Aug 2016