Despite the uncertainty surrounding Brexit, London remains the world's most important financial center. The UK capital is at the top of a half-yearly ranking of the financial think tank Z/Yen Group and the China Development Institute.
Compared to half a year ago, London lost only two points in the Global Financial Centers Index. During that period, there were plenty of speculations about financial institutions that will turn back on London after Brexit, but there is hardly any mention in the index, Bloomberg writes on Monday.
However, cities such as Amsterdam, Frankfurt, Dublin and Paris received points. These cities are often referred to as a potential new base for institutions leaving London.
New York remains ranked second in financial centers, but lost 24 points, due to the uncertain economic situation in the US. Other American cities also lost ground. Hong Kong beat Singapore to third place.
Measuring Plate
The Global Financial Centers Index was first set up in 2007. Cities with a large business center are placed based on a variety of factors, ranging from the tax climate to the crime rates. They can score a maximum of a thousand points.
Since the existence of the index, the Asian cities are increasingly crawling up and gaining on London and New York.
Translated by Asta Kerkhoven
Source:
https://www.nu.nl/brexit/4917374/londen-blijft-financiele-hoofdstad-van-wereld-ondanks-brexit.html