Singapore Ranked Third Amongst World Financial Centers

According to the Global Financial Centers Index (GFCI), Singapore has become the main Asian financial center, taking third place in the global ranking. This is reported in a published study by Z / Yen Partners and the China Development Institute.

In the new version of the rating, Singapore overtook Hong Kong (4th place) and became the main financial center of Asia. The first two places in the global ranking are occupied by New York and London.

According to the compilers of the ranking, Hong Kong dropped to fourth place due to the strict restrictions of Covid-19. At the same time, American San Francisco improved its position in the rankings, moving up two positions to round out the top five.

The top ten ranking looks like this:

New York

London

Singapore

Hong Kong

San Francisco

Shanghai

Los Angeles

Beijing

Shenzhen

Paris

Dubai and Abu Dhabi were the top financial centers in the Middle East, coming in at 17th and 32nd respectively.

Russia's financial centers lost ground due to the war in Ukraine, Moscow fell 22 places to 73rd, and St. Petersburg fell 17 places to 114th.

Barbados, Xi'an and Wuhan ranked last three on the list.

In total, 119 financial centers participate in the rating. It draws on data from thousands of financial services professionals.