International Financial Centers Ranking, 2023

The world’s most attractive financial centers, 2023: London ranked first as the most attractive financial centers worldwide for 2023 by the CEOWORLD magazine, followed by New York and Singapore. The ranking is based on an index for global financial hub rating, in which many factors are integrated. London scored 960 points, followed by New York, with 957 points. Hong Kong was fourth in the latest International Financial Centers Ranking, and Amsterdam was fifth.

Zurich was 6th, with Tokyo, Paris, Luxembourg, and Munich rounding out the top 10. What are the factors that separate mere bustling metropolises from international financial centers?

International Financial Centers Index ranks the competitiveness of global financial hubs based on assessments from a questionnaire together with over 50 indices from organizations such as the Organisation for Economic Co-operation and Development (OECD), the World Bank, and the Economist Intelligence Unit. International Financial Centers Index, compiled by the CEOWORLD magazine, ranks 115 global financial centers and uses data collected from thousands of financial services professionals and global bankers responding to the questionnaire.

A financial hub or center is a city or region with a strategic location in the financial industry. A place where various financial sector participants, such as banks, trading companies, stock exchanges, and other institutions, are concentrated in one area. Financial centers can be characterized by a solid infrastructure, stable regulatory and political environments, attractive taxation rules, and the availability of various opportunities to help trade and business growth.

According to a survey carried out by the CEOWORLD magazine among financial services professionals and global bankers in 2023, the most critical factors determining the competitiveness of a financial center were business environment, reputation, and infrastructure.

Index provides evaluations of future competitiveness and rankings for 115 financial centers around the world. Not surprisingly, London again topped the list (as it was in 2022), and New York took the number two spot, followed by Singapore and Hong Kong.

The ranking is based on a global online survey of 220,000 financial professionals and international bankers, who evaluated 900 cities on 50 factors in 7 broad areas of competitiveness, including business environment; size & volume of financial activities; capital market size; human capital availability; a base for business; reputation; and international wealth management. London held on to the top stop with 960 points, while New York dropped 3 points to 957, just one point ahead of Singapore. The data was based on responses up until the end of March 2023.

International Financial Centers Ranking, 2023

Rank	City	Country or Territory	Rating
1	London	United Kingdom	960
2	New York	United States	957
3	Singapore	Singapore	956
4	Hong Kong	Hong Kong	948
5	Amsterdam	Netherlands	947
6	Zurich	Switzerland	944
7	Tokyo	Japan	941
8	Paris	France	935
9	Luxembourg	Luxembourg	932
10	Munich	Germany	929
11	Los Angeles	United States	923
12	Dubai	United Arab Emirates	922
13	San Francisco	United States	920
14	Frankfurt	Germany	918
15	Beijing	China	915
16	Stockholm	Sweden	914
17	Geneva	Switzerland	911
18	Brussels	Belgium	910
19	Boston	United States	908
20	Abu Dhabi	United Arab Emirates	905
21	Madrid	Spain	904
22	Chicago	United States	900
23	Seoul	South Korea	898
24	Shenzhen	China	897
25	Washington DC	United States	896
26	Edinburgh	United Kingdom	884
27	Toronto	Canada	883
28	Sydney	Australia	882
29	Guangzhou	China	880
30	Montreal	Canada	879
31	Copenhagen	Denmark	877
32	Oslo	Norway	873
33	Milan	Italy	871
34	Berlin	Italy	869
35	Dublin	Ireland	868
36	Rome	Italy	867
37	Wellington	New Zealand	852
38	Vienna	Austria	851
39	Calgary	Canada	850
40	Kuala Lumpur	Malaysia	849
41	Moscow	Russia	845
42	Glasgow	United Kingdom	844
43	Melbourne	Australia	843
44	Busan	South Korea	842
45	Lisbon	Portugal	836
46	Chengdu	China	830
47	Vancouver	Canada	827
48	Helsinki	Finland	822
49	Mumbai	India	821
50	Hamburg	Germany	814
51	Osaka	Japan	812
52	Casablanca	Morocco	806
53	Cape Town	South Africa	802
54	Johannesburg	South Africa	800
55	Tel Aviv	Israel	799
56	New Delhi	India	798
57	Warsaw	Poland	790
58	Mexico City	Mexico	789
59	Bangkok	Thailand	788
60	Stuttgart	Germany	785
61	Rio de Janeiro	Brazil	780
62	Lugano	Switzerland	778
63	Sao Paulo	Brazil	777
64	Nur-Sultan (Astana)	Kazakhstan	775
65	Cyprus	Cyprus	774
66	Atlanta	United States	773
67	Istanbul	Turkey	769
68	Doha	Qatar	767
69	Taipei	Taiwan	766
70	Athens	Greece	765
71	Jersey	Jersey	761
72	Prague	Czech Republic	759
73	Jakarta	Indonesia	758
74	Almaty	Kazakhstan	755
75	Cayman Islands	Cayman Islands	754
76	Liechtenstein	Liechtenstein	753
77	Riyadh	Saudi Arabia	752
78	Mauritius	Mauritius	745
79	Santiago	Chile	742
80	Monaco	Monaco	739
81	Bogota	Colombia	738
82	Guernsey	Guernsey	735
83	San Diego	United States	733
84	Bahrain	Bahrain	725
85	Isle of Man	Isle of Man	722
86	Malta	Malta	720
87	Budapest	Hungary	719
88	British Virgin Islands	British Virgin Islands	718
89	Ho Chi Minh City	Vietnam	710
90	Tallinn	Estonia	705
91	Tianjin	China	704
92	Trinidad and Tobago	Trinidad and Tobago	698
93	Hangzhou	China	696
94	Dalian	China	692
95	Bahamas	Bahamas	691
96	Bermuda	Bermuda	686
97	St Petersburg	Russia	682
98	Sofia	Bulgaria	679
99	Manila	Philippines	669
100	Kuwait City	Kuwait	667
101	Xian	China	664
102	Wuhan	China	663
103	Nanjing	China	649
104	Gibraltar	Gibraltar	648
105	Reykjavik	Iceland	646
106	Buenos Aires	Argentina	644
107	Vilnius	Lithuania	643
108	Riga	Latvia	642
109	Barbados	Barbados	641
110	Baku	Azerbaijan	639
111	Panama	Panama	632
112	Minneapolis / St Paul	United States	627
113	Turks and Caicos	Turks and Caicos	625
114	Gothenburg	Sweden	623
115	Bratislava	Slovakia	622

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