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

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