• Sat. Apr 20th, 2024

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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