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I was looking around for the Z/Yen Global Financial Centres Index 13, since it comes out in March and September. The March version isn't out yet, but they did release an abbreviated ranking (Called GFCI 12.5), which simply shows a ranking of cities without any details...per usual, there are five American cities, but now their rankings have changed:
GFCI 12:
2. New York City
8. Chicago
11. Boston
12. San Francisco
14. Washington DC
GFCI 12.5:
2. New York City
7. Boston
12. Chicago
14. San Francisco
16. Washington DC
Before we go too far, we'll see what the actual rankings are in the GFCI 13 in the next week or so...but this is still interesting nonetheless. As a native Bostonian, I'm obviously happy to see the city doing so well, but SF did a similar move a couple of rankings ago and then dropped right back to where it was prior to that, so I'm saving the fireworks for now, even if I'm happy to see it move into the Top 10 in the world and #2 in USA/North America.
What really shocks me is Chicago. Not only has it dropped from second to fourth in North America, but it has dropped out of the Top 10 in the world since the creation of this index six years ago. As someone who loves Chicago, I hope this is a temporary set back...but what do you guys think? With the continuous decline of the American Midwest and Chicago's prize-pig (agriculture) growing rapidly outside of the country--especially in developing nations like India, China, and Brasil--could this be Chicago's new "norm"? I sincerely hope not, since I feel like it's too big and great of a city to lose its elite financial status...
Vancouver is the primary financial centre of the west coast?
I admit, I wouldn't have thought it would be...but I'll wait to see their reasoning before passing judgement.
What's with all the hashtags? I admit I haven't been coming on here very often anymore, but every post of yours I've seen recently seems to be followed by them...
I was looking around for the Z/Yen Global Financial Centres Index 13, since it comes out in March and September. The March version isn't out yet, but they did release an abbreviated ranking (Called GFCI 12.5), which simply shows a ranking of cities without any details...per usual, there are five American cities, but now their rankings have changed:
GFCI 12:
2. New York City
8. Chicago
11. Boston
12. San Francisco
14. Washington DC
GFCI 12.5:
2. New York City
7. Boston
12. Chicago
14. San Francisco
16. Washington DC
Before we go too far, we'll see what the actual rankings are in the GFCI 13 in the next week or so...but this is still interesting nonetheless. As a native Bostonian, I'm obviously happy to see the city doing so well, but SF did a similar move a couple of rankings ago and then dropped right back to where it was prior to that, so I'm saving the fireworks for now, even if I'm happy to see it move into the Top 10 in the world and #2 in USA/North America.
What really shocks me is Chicago. Not only has it dropped from second to fourth in North America, but it has dropped out of the Top 10 in the world since the creation of this index six years ago. As someone who loves Chicago, I hope this is a temporary set back...but what do you guys think? With the continuous decline of the American Midwest and Chicago's prize-pig (agriculture) growing rapidly outside of the country--especially in developing nations like India, China, and Brasil--could this be Chicago's new "norm"? I sincerely hope not, since I feel like it's too big and great of a city to lose its elite financial status...
But enough from me...what do you guys think?
I predicted the Fall of Chicago would be coming for the past 2 years. I also predicted it would be a slow and painful process. Like Detroit and what that city went through from the 60s too today.
Turns out the evidence supports my claim.
II hope this is a temporary set back...but what do you guys think? With the continuous decline of the American Midwest and Chicago's prize-pig (agriculture) growing rapidly outside of the country--especially in developing nations like India, China, and Brasil--could this be Chicago's new "norm"? I sincerely hope not, since I feel like it's too big and great of a city to lose its elite financial status...
No offense, but Chicago has never had "elite financial status".
I'm not familiar with this ranking, but I used to work in Investment Banking, and then a bit in Private Equity, and Chicago isn't really a global financial player. It has always been around the same general level as Boston and San Francisco, which is to say fairly important, but not really a global powerhouse filled with major players.
The three cities (Chicago, Boston and SF) have different relative strengths, with Chicago famous for derivatives, Boston for mutual funds, and SF for venture capital.
Last edited by JMT; 03-19-2013 at 01:49 PM..
Reason: Only North American cities are to be discussed in the city vs. city forum.
I find it funny that people see one little list of Chicago being ranked lower and assume its declining, going into the crapper, or whatever....people are so easily swayed lol.
I predicted the Fall of Chicago would be coming for the past 2 years. I also predicted it would be a slow and painful process. Like Detroit and what that city went through from the 60s too today.
Turns out the evidence supports my claim.
OMG a not-yet-even-finalized ranking lowered the spots of Chicago (and SF and DC) in a global financial center index by giving *6 more points* to Chicago than it gave last year, while also being very heavy-handed with more points to several emerging markets in Asia and South America. Hold the presses. 'Merica's in decline. What. An. Observation.
Really.
Applause are necessary.
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