The United States remains the world’s dominant financial hub, well ahead of nearest rival Britain, whose lead over Frankfurt and Paris so far easily outweighs the hit from BREXIT, a study from New Financial think tank revealed Thursday.
“Brexit and the potential impact on the City of London has catalyzed the debate around the relative strengths and weaknesses of different financial centers around the world,” New Financial said.
Its rankings for 65 markets echo those from similar surveys such as Z/Yen Group, but New Financial’s focus on actual domestic and international financial activity, rather than on qualitative factors like business and regulatory environments, highlights the catch-up required by centres to get ahead.
The United States scored an overall 84 out of 100, more than 2X the UK’s score of 35, which in turn is nearly 3X that of France, Germany or Luxembourg.
New Financial used data from Ys 2016 to 2019.
China, at 29 pts is the 3rd largest financial center, ahead of Japan (19 pts), Hong Kong (14) and France (13), because its huge domestic financial sector compensates for relatively weak international activity.
Have a healthy day, Keep the Faith!