London is once again recognised as the top location in the world for finance, reports londonlovesbusiness.com.
The latest Global Financial Centres Index (GFCI) placed the English capital ahead of second-placed New York by 20 points. The top five remained unchanged compared with last year, with Hong Kong, Singapore and Zurich taking the next three place behind London and New York.
While New York’s score rose at a faster pace than London’s, the number-one ranked city yet again showed its importance as an international centre of finance – which could provide conference centres in the capital with additional interest for finance-related events.
The top 20 GFCI cities were published on theatlanticcities.com and there were some big movers; Vienna climbed 16 places to reach number 20, while Calgary and Luxembourg rose six places each to get to 17th and 18th respectively. Higher up, the big winners were Boston and Frankfurt, both of which climbed three places to creep into the top ten (8th and 10th).
GFCI looks at 79 cities across the world to collate its rankings, looking at factors such as competitiveness, talent and economic environment. Co-founder of ‘The Atlantic Cities’ Richard Florida pointed out that the GFCI rankings are similar to the rankings he produced on the most economically powerful cities.
In Mr Florida’s economic results, New York top the list, followed by London, Tokyo, Paris and Hong Kong.