Leading financial centers worldwide 2021
New York ranked first as the most attractive financial centers worldwide as of March 2021. The ranking is based on an index for financial center rating, in which a multitude of factors are integrated. New York had a rating of with 764 points during that time, followed by London, with 743 points.
What are financial centers?
A financial center is a region or city with strategic location to the financial industry. It is a place where various participants of the financial sector, such as banks, trading companies, stock exchanges and other institutions, are concentrated in one area. Financial hubs can be characterized by solid infrastructure, stable regulatory and political environments, attractive taxation rules and the availability of various opportunities to help the trade and business grow. According to a survey carried out among financial services professionals in 2019 the most important factors determining the competitiveness of a financial center were business environment, human capital, reputation, infrastructure and financial sector development.
Financial centers by region
According to the Global Financial Centers Index, the following locations have been distinguished as most attractive financial hubs in North America: New York, Toronto, San Francisco, Los Angeles, and Chicago. In Latin America, the Cayman Islands, Bermuda and Mexico City were given the highest scores. When financial sector professionals were asked which financial centers were likely to become more significant in the next years as 2019, they indicated the following locations: Qingdao, Stuttgart, Shanghai, and Beijing.
What are financial centers?
A financial center is a region or city with strategic location to the financial industry. It is a place where various participants of the financial sector, such as banks, trading companies, stock exchanges and other institutions, are concentrated in one area. Financial hubs can be characterized by solid infrastructure, stable regulatory and political environments, attractive taxation rules and the availability of various opportunities to help the trade and business grow. According to a survey carried out among financial services professionals in 2019 the most important factors determining the competitiveness of a financial center were business environment, human capital, reputation, infrastructure and financial sector development.
Financial centers by region
According to the Global Financial Centers Index, the following locations have been distinguished as most attractive financial hubs in North America: New York, Toronto, San Francisco, Los Angeles, and Chicago. In Latin America, the Cayman Islands, Bermuda and Mexico City were given the highest scores. When financial sector professionals were asked which financial centers were likely to become more significant in the next years as 2019, they indicated the following locations: Qingdao, Stuttgart, Shanghai, and Beijing.
