Forbes reports that New York has retained its leadership in the ranking of the world’s largest financial centers. This is stated in the review of the financial consulting company Z/Yen Group Ltd., which calculates the Global Financial Centers Index (GFCI).
The cities at the top of the ranking have access to more capital, more developed financial instruments, and better risk management capabilities.
New York has been the unchanging ranking leader since the fall of 2018. Compared to the previous ranking version, New York lost one point and scored 763 points.
London took the second place with 750 points, adding three points.
Hong Kong is in third place, overtaking Singapore with 749 points against 747.
San Francisco retained fifth place, Chicago moved up to sixth place from ninth, Los Angeles to seventh from eighth, and Shanghai slipped two positions to eighth.
The top ten changed twice: Seoul and Geneva left the top, giving way to Shenzhen and Frankfurt.