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In this article, we take a look at the top 20 financial cities in the world. To see more of the world’s top financial cities, visit us directly. Top 5 financial cities in the world.
A financial city is a financial center that facilitates commerce and helps drive growth. Major financial cities have deep capital markets that help businesses access capital.
For example, the financial city of San Francisco is in close proximity to Silicon Valley, the world’s center of innovation. Some banks, such as San Francisco-based Wells Fargo & Co. (NYSE:WFC), are offering capital to Silicon Valley companies to hire more employees or invest in new projects. We help you get a
New York City is another major financial center. Because New York City is home to his two largest stock exchanges in the world, the New York Stock Exchange and his NASDAQ, many financial companies have their regional or national headquarters there. With so many financial companies doing business in New York City, New York City facilitates many capital investments that help grow the U.S. and global economies.
Wise investments fund the right projects and produce more goods and services than if the capital had not been allocated. When more goods and services are produced, the economy expands and living standards improve.
The financial city itself benefits from having substantial financial companies and major corporations with regional or national headquarters based in the area. Many major financial cities have high real estate prices and higher per capita income than the rest of their respective countries.
financial city growth
In terms of growth, many financial cities are growing organically. Many large companies want to be headquartered in a city that may have access to easy-to-grow capital. Financial firms that facilitate access to capital markets also want to operate closer to many large corporations to more easily increase sales.
If a city already has a large number of large corporations and financial firms, many large corporations may want to locate their regional or national headquarters in that city. As a result, cities are getting bigger, with more big corporations and more financial companies.
Countries with the most financial cities
Given that the United States is the world’s largest economy and the US dollar is the dominant global reserve currency, the United States is home to some of the world’s leading financial centers, including the world’s leading financial center in New York City.
Given that China’s economy is the second largest in the world, China also has many major financial cities.
Several major European cities are also major financial centers as they are the capitals of the great European economies. For those interested, see Countries by GDP: The 30 Largest Economies in the World.
methodology
The list of the world’s top 20 financial cities used rankings from the 32nd edition of the Global Financial Centers Index (GFCI 32), which uses a variety of quantitative measures in addition to online surveys.
Top 20 financial cities in the world
20. Geneva
GFCI Rating: 709
Geneva is the second most populous city in Switzerland and one of the richest countries in the world in terms of GDP per capita. As a financial city, companies operating in Geneva, including 87 banks, employ a total of 37,900 financial and related professionals.
19. Amsterdam
GFCI Rating: 710
Amsterdam is not only one of Europe’s leading financial cities, but also one of the continent’s leading technology hubs. As a city, Amsterdam benefits from having an educated and talented workforce. Many of them are fluent in English. Amsterdam is also the largest city in the Netherlands, with a 2021 GDP of her $1.13 trillion.
18. Frankfurt
GFCI Rating: 711
Frankfurt is the financial center of Germany, Europe’s largest economy. Being a financial center, the city has over 200 financial institutions, including many foreign banks. Frankfurt ranks 18th on the list of the top 20 financial cities in the world.
17. Dubai
GFCI Rating: 712
Dubai is one of the richest cities in the Middle East and has many financial companies based there. In terms of GFCI ratings, Dubai scores 712, up 21 from GFCI 31 in the index’s previous edition.
16. Tokyo
GFCI Rating: 713
Tokyo is the capital and largest city of Japan, the world’s third largest economy. Given that Tokyo is huge in terms of population, many large corporations and major financial institutions are based in Tokyo. Tokyo is also home to the Tokyo Stock Exchange, one of the largest stock exchanges by market capitalization of listed companies. Due to its strengths, Tokyo ranks him 16th on the list of the top 20 financial cities in the world.
15. Washington DC
GFCI Rating: 714
Although not the financial center of the United States, the country’s capital is home to many important decision makers who can influence economic growth, including the President of the United States and the Chairman of the Federal Reserve Board. As a result, many large corporations, including financial firms, have their headquarters or offices in Washington, DC, making Washington DC a major financial city.
14. Boston
GFCI Rating: 715
Boston is a major financial hub as many financial companies operate in Boston. One of the reasons many financial companies operate in Boston is that Boston is home to prestigious universities such as Harvard and MIT, and many financial companies want to hire graduates from these universities.
13. Sydney
GFCI Rating: 716
Sydney is the most populous city in Australia, one of the largest economies in the Asia Pacific region. Australia’s GDP in 2021 is her $1.553 trillion, making it a big market for many multinationals looking to grow in the region. Considering Sydney is the country’s largest city, many businesses, including financial firms, have set up their regional headquarters there.
12. Chicago
GFCI Rating: 717
Chicago is a major financial center as it is home to the Chicago Mercantile Exchange or CME, a leading futures exchange for interest rates, stock indices, foreign currencies and commodities. As a result of the Chicago Mercantile Exchange based there, many futures-oriented firms and investment firms are also based there.
11. Seoul
GFCI Rating: 718
Seoul is the capital of South Korea with one of the largest economies in Asia. South Korea’s GDP in 2021 was $1.811 trillion, ranking 10th in the world by nominal GDP that year. In terms of GFCI ratings, Seoul ranks 11th on the list of the world’s top 20 financial cities.
10. Paris
GFCI Rating: 719
Paris is the capital of France, the world’s largest economy. France’s GDP in 2021 was $2.958 trillion, the 7th highest in the world. As a result, many major French companies are headquartered in Paris, including many financial companies, and Paris ranks 10th on the list of the top 20 financial cities in the world.
9. Shenzhen
GFCI Rating: 720
Shenzhen is China’s Silicon Valley, home to many start-ups and Chinese tech giants. Shenzhen is home to the Shenzhen Stock Exchange, a major stock exchange that is also based in Shenzhen. Many financial companies are based in the city, given that many large companies operate there. Considering his GFCI rating of 720, Shenzhen ranks 9th on the list of the top 20 financial cities in the world.
8. Beijing
GFCI Rating: 721
Much like Washington, D.C. is in the United States, many of China’s key decision makers, such as China’s president, live in Beijing to help make economic policy decisions. As a result, many large companies want to locate their headquarters in the city. As China’s capital, many state-owned enterprises, including China’s four largest banks, are headquartered in Beijing.
7. Los Angeles
GFCI Rating: 722
Besides being the home of Hollywood, Los Angeles is also a major financial center. In terms of GDP, the Los Angeles Long Beach-Anaheim metropolitan area is his second largest city in the United States, behind the New York-Newark Jersey City metropolitan area. Given the real economy, many large corporations, including numerous financial firms, have regional or national headquarters in Los Angeles.
6. Shanghai
GFCI Rating: 723
Shanghai is home to the Shanghai Stock Exchange, China’s largest stock exchange by market capitalization of listed companies. The city is also a major port and he is one of China’s largest cities by GDP. Considering his GFCI rating of 723, Shanghai ranks him sixth in the list of the world’s top 20 financial cities.
Click to read more and see the top 5 financial cities in the world.
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Disclosure: None. Top 20 financial cities in the world was first published on Insider Monkey.
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