The latest figures from the Global Financial Centres Index (GCFI) shouldn’t come to a surprise — London, New York, Singapore and Hong Kong remain top dogs as leading financial centres in the world.
What has changed this year is the fact that Singapore has overtaken Hong Kong as the top financial centre in Asia, climbing to third place behind London (first place) and New York (second place).
Research firm Z/Yen Group’s report had also showed that professionals in the financial industry foresee Singapore playing a bigger role in shaping the international financial landscape in the next couple of years.
Other Asia-Pacific countries such as Seoul and Sydney saw declines in their ratings, while North American regions had a mixed bag of scores.
