Global Financial Centres Index

The Global Financial Centres Index (GFCI) ranks the competitiveness of financial centres based on over 29,000 assessments from an online questionnaire and over 100 indices from organisations such as the World Bank, the Organisation for Economic Co-operation and Development (OECD), and the Economist Intelligence Unit. It was first published in March 2007. It has been jointly published twice per year by the London-based think tank Z/Yen and the China Development Institute since 2015. It is widely quoted as a top source for ranking financial centres.

GFCI 38 (September 2025)

Top 20 centres in GFCI 38 (September 2025)

Rank	Centre	Rating	Change in rank	Change in rating
1	New York City	766		3
2	London	765		3
3	Hong Kong	764		4
4	Singapore	763		13
5	San Francisco	754		5
6	Chicago	753		7
7	Los Angeles	752		7
8	Shanghai	751		7
9	Shenzhen	750		7
10	Seoul	749		7
11	Dubai	748	1	8
12	Frankfurt	747	1	6
13	Washington, D.C.	746		7
14	Geneva	745	1	8
15	Tokyo	744	7	14
16	Zurich	743	5	12
17	Boston	742	2	9
18	Paris	741	1	6
19	Luxembourg	740	3	4
20	Dublin	739	6	1

Financial centre profiles (GFCI 36, September 2024)

The report ranks international financial centres into the following matrix:

Financial Centre Profiles (GFCI 36, September 2024)

Level	Broad and deep Global leaders	Relatively broad Global diversified	Relatively deep Global specialists	Emerging Global contenders
Global	London New York Washington, D.C. Paris Los Angeles Tokyo Zurich Amsterdam Dublin Frankfurt	Singapore Seoul Kuala Lumpur Brussels	Dubai Abu Dhabi Casablanca Mauritius Hong Kong Luxembourg	Beijing Istanbul Shanghai
Level	Broad and deep Established international	Relatively broad International diversified	Relatively deep International specialists	Emerging International contenders
International	Boston Chicago Busan Edinburgh Berlin Rome Milan Geneva Montreal Toronto Munich Sydney Osaka Hamburg Melbourne Miami Vancouver Stuttgart	Bangkok Vienna Madrid Stockholm San Francisco Athens Copenhagen	Mumbai GIFT City Riyadh Bermuda Qingdao Shenzhen Tel Aviv Astana Jersey	Moscow Mexico City Panama Bahamas Nairobi Bahrain Jakarta Doha Lagos New Delhi Johannesburg Cape Town Guangzhou São Paulo Kigali British Virgin Islands Cayman Islands Taipei Liechtenstein
Level	Broad and deep Established players	Relatively broad Local diversified	Relatively deep Local specialists	Emerging Evolving centres
Local	Oslo San Diego Glasgow Calgary Minneapolis/St Paul Wellington	Santiago Lisbon Warsaw Prague Atlanta Helsinki	Rio de Janeiro Tallinn Malta Ho Chi Minh City Chengdu Lugano Xi'an Hangzhou Wuhan Tianjin Reykjavík Monaco Nanjing Gibraltar Dalian	Baku Manila Buenos Aires Sofia Riga Cyprus Saint Petersburg Budapest Tehran Bogotá Guernsey Bratislava Vilnius Almaty Trinidad and Tobago Barbados Isle of Man Kuwait City