Leading financial centers worldwide 2024

New York ranked first as the most attractive financial center worldwide as of March 2024. The ranking is based on an index for financial center rating, in which a multitude of factors are integrated. New York had a rating of 764 points, and it was followed by London with a rating of 747. 

What are financial centers?

A financial center is a region or city with a strategic location for the financial industry. It is a place where various participants in the financial sector, such as banks, trading companies, stock exchanges and other institutions, are concentrated in one area. Financial hubs can be characterized by solid infrastructure, stable regulatory and political environments, attractive taxation rules and the availability of various opportunities to help trade and business grow. According to a survey carried out among financial services professionals in 2024, the most important factors determining the competitiveness of a financial center were the business environment, taxation, and human capital. 

Financial centers by region

According to the Global Financial Centers Index, the most attractive financial hubs in North America are New York, San Francisco, Los Angeles, and Chicago. In Latin America and the Caribbean, the Cayman Islands, Sao Paolo, and Barbados were given the highest scores. When financial sector professionals were asked which financial centers were likely to become more significant in the next years, they indicated the following locations: Seoul, Singapore, Dubai.