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World’s top financial centers ranked by GFCI in the latest study.
1. London (tie)
1. New York (tie)
3. Hong Kong
4. Singapore
5. Tokyo
6. Chicago
7. Zurich
8. Geneva
9. Shenzhen (tie)
9. Sydney (tie)
11. Shanghai
12. Toronto
13. Frankfurt
14. Boston
15. Beijing
16. San Francisco
17. Washington
18. Jersey
19. Luxembourg
20. Paris
According to the report, 8 centers are considered the global leaders in the financial world: New York, London, Hong Kong, Singapore, Tokyo, Chicago, Zurich & Toronto.
I should've asked if people agree with the rankings. Also it would be nice to know which cities people think will become major financial centers in the future.
Was your intent to share data about cities with us? If so, you have succeeded.
Also, the inclusion of Jersey is highly suspect as this means a lot of offshoring services that are really just intermediaries where little "work" is done are being counted. Weird!
It used to be a global leader in the financial world. However, Paris has lost its competitive edge in recent years. Paris's weak spot is in the financial services area where it lacks sufficient depth to be considered a global leader.
Quote:
Originally Posted by TheCity
Well, it's no shocker to me about New York City and London being interchangeable for number one.
I was really shocked at how low Paris ranked. I assumed Paris would be top 5.
World’s top financial centers ranked by GFCI in the latest study.
1. London (tie)
1. New York (tie)
3. Hong Kong
4. Singapore
5. Tokyo
6. Chicago
7. Zurich
8. Geneva
9. Shenzhen (tie)
9. Sydney (tie)
11. Shanghai
12. Toronto
13. Frankfurt
14. Boston
15. Beijing
16. San Francisco
17. Washington
18. Jersey
19. Luxembourg
20. Paris
According to the report, 8 centers are considered the global leaders in the financial world: New York, London, Hong Kong, Singapore, Tokyo, Chicago, Zurich & Toronto.
how can Toronto be one of the 8 global leaders but not make top 10 on the list ? is this another list that underrates Toronto by including business only in the core of the city as opposed to the metro area (like Chicago, Sydney) ?
Madrid has to be somewhere on the list, Spain has some of the largest banks in the world.
It's interesting that China has 3 in the top 10 and the US has 2. the US use to be considered the biggest lender in the world and now China has that distinction.
Geneva, Shenzhen, Sydney, Shanghai finished higher than Toronto in the rankings not just because their growth already outpaced Toronto, these centers also performed well in the asset management & financial services cluster-the two sub-indices that Toronto did not score very high.
However, the reason why Toronto is still considered as one of the eight global leaders (New York, London, Hong Kong, Singapore, Chicago, Zurich, Frankfurt & Toronto) has something to do with reputation, global connectivity & sheer volume. Toronto is a giant in the financial world. Its TMX group is the eight largest stock exchange in the world in terms of market capitalization. Canada's 5 largest banks and 3 of the world's 25 largest banks also call Toronto home. Toronto's financial services ranked only behind New York & Chicago in North America.
Quote:
Originally Posted by grmike
how can Toronto be one of the 8 global leaders but not make top 10 on the list ? is this another list that underrates Toronto by including business only in the core of the city as opposed to the metro area (like Chicago, Sydney) ?
Madrid has to be somewhere on the list, Spain has some of the largest banks in the world.
It's interesting that China has 3 in the top 10 and the US has 2. the US use to be considered the biggest lender in the world and now China has that distinction.
Last edited by downtown1; 03-21-2010 at 10:58 AM..
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