# 2010 Global Financial Centers Index report



## pixel2008 (Sep 18, 2008)

Top two *Global Financial Centers* according to the latest Global Financial Centers Index report published by the City of London are London and New York City. 

"The index is compiled in terms of several instrumental factors, including availability of professional workforce, business climate, market access, basic infrastructure, general competitiveness, capital availability and digitization.

New York tied with London at the top of the global rating for the first time, while Hong Kong and Singapore remained at third and fourth places, respectively. But the report said the total scores of the two centers have continued to rise, while the gap between London and New York has been narrowing steadily". (http://www.etaiwannews.com/etn/news...g_news&cate_img=35.jpg&cate_rss=news_Business _Taiwan News_).


*TOP 10 GLOBAL FINANCIAL CENTERS*:
--------------------------------------
1. London, New York City
3. Hong Kong
4. Singapore
5. Tokyo
6. Chicago
7. Zurich
8. Geneva
9. Shenzen, Sydney


"London has lost its crown as the pre-eminent home of banking and finance, as it tied for the first time with New York in the latest ranking of financial centres.

Fears about a regulatory backlash and new taxes drove down London’s score by 14 points to tie with New York at 775 points, in the Global Financial Centres Index compiled by Z/Yen for the City of London Corporation. 

London was one of only four cities to lose points in the semi-annual ranking, which combines a survey of financial professionals with factors such as office rental rates, airport satisfaction and transport. New York’s score rose by only 1 point".

/By Brooke Masters: _Financial Times _http://www.ft.com/cms/s/0/31521254-2d4e-11df-9c5b-00144feabdc0.html?nclick_check=1/



"New York Catches Up to London as Finance Center.

London lost its position as top financial center for the first time and is now tied with New York, according to a ranking of global financial centers published Friday. Planned tax increases on bonuses and uncertainties about future banking regulation hurt the British capital’s popularity among global investors and other financial professionals".

/From DealBook Julia Werdigier: _The New York Times: _http://dealbook.blogs.nytimes.com/2010/03/12/new-york-catches-up-to-london-as-finance-center/?scp=1&sq=global%20financial%20centers%20rating%202010&st=cse/


----------



## Anderson Geimz (Mar 29, 2008)

Full list:
http://217.154.230.218/NR/rdonlyres/661216D8-AD60-486B-A96F-EE75BB61B28A/0/BC_RS_GFC7full.pdf


----------



## city_thing (May 25, 2006)

This thread's gonna be closed any minute now...

I'm surprised to see Sydney tied at number 9 (and ahead of cities like Toronto, Mexico City, Sao Paolo etc.)

Sydney's economic importance extends across Asia and Oceania, but that's about it.


----------



## pixel2008 (Sep 18, 2008)

^^ As for me, it is a surprise that Singapore ranks higher than Tokyo on the list. Also I've never regarded cities such as Geneva, Shenzen, and Chicago as GLOBAL financial centers. 

Geneva is a home to many important international organizations and is widely referred to as a worldwide center for diplomacy, but I wasn't aware the city could be associated with finance. Shenzen and Chicago are both great business cities, but I didn't know they are so "global".


----------



## desertpunk (Oct 12, 2009)

pixel2008 said:


> ^^ As for me, it is a surprise that Singapore ranks higher than Tokyo on the list. Also I've never regarded cities such as Geneva, Shenzen, and Chicago as GLOBAL financial centers.
> 
> Geneva is a home to many important international organizations and is widely referred to as a worldwide center for diplomacy, but I wasn't aware the city could be associated with finance. Shenzen and Chicago are both great business cities, but I didn't know they are so "global".


The same could be said of Washington DC, Beijing, etc. In the end, it's just a list and it seems everybody has a damn list. hno:


----------



## HK999 (Jul 17, 2009)

HK, come on you can do better!  i'm actually surprised that shanghai is not in the top10. it sure is one of the most emerging financial centers in our time.


----------



## Looking/Up (Feb 28, 2008)

It's a report conducted by the City of London and should probably be taken with a grain of salt. Mastercard and FP do the same sort of ranking, and yet they all come out with different results.


----------



## Slartibartfas (Aug 15, 2006)

Both Zürich and Geneva are in the Top 10 while Frankfurt is not? I have to say I am surprised.


----------



## oliver999 (Aug 4, 2006)

7. Zurich
8. Geneva
both are globle cities, but not "center". paris and frankfurt are more "center" for me


----------



## Skybean (Jun 16, 2004)

The report itself is quite interesting. They also list which cities are likely to have been hurt most by the financial crisis and also financial centres which are expected to grow.

My surprises are Sydney, Zurich, Geneva and Shenzhen (over Shanghai?) which should be lower.












HK999 said:


> HK, come on you can do better!  i'm actually surprised that shanghai is not in the top10. it sure is one of the most emerging financial centers in our time.


Best in Asia already, let's not be greedy. ^_^


----------



## Dimethyltryptamine (Aug 22, 2009)

There is more to the index than Stock Exchanges, Skybean. If City of London were fudging numbers, I don't think London would sit equal with New York City.


----------



## pixel2008 (Sep 18, 2008)

^^ Well, "Finance" means MUCH more than "Stock Exchange".

_"*FINANCE*: theory and practice of conducting large public and private dealings in money. Important institutions of private finance include those that deal with *insurance, banking, stocks, bonds, and other securities*"_.
http://encyclopedia2.thefreedictionary.com/Finance

Keeping that in mind it looks like the report (for the most part) makes sense. Of course it does NOT mean we must think of the report as a conclusive one. I bet there are many other reliable reports on this matter. Anyway, as far as I'm concerned the findings of the survey are quite interesting.


----------



## pottebaum (Sep 11, 2004)

Woo! Go Chicago!


----------



## MILIUX (Sep 13, 2002)

As pixel2008 said, finance is more than just stock-exchange. Sydney manages a significant pension fund thanks to compulsory superannuation for all working Australians. Pension fund managers moves a lot of capital especially to infrastructure projects.


----------



## Middle (Mar 17, 2010)

London & New York.


----------

