The consulting firm Z/Yen Partners prepares on an annual basis the Global Financial Centers Index in which he establishes a ranking with the cities with the greatest financial importance and the ones that will grow the most. This year’s brings good news for Spain: Madrid becomes the fourth most important city in the financial sector in Europebehind London, Paris and Frankfurt.
Last year’s report placed Madrid as the ninth most important city for finances and, after registering 690 points in this latest edition, it rose five places. London has added 726 points, Paris 706 and Frankfurt 694. In the global classification, the capital of Spain is in 18th place and, together with the Chinese city of Shenzhen, it is the city of the first 20 that rises the most positions compared to the previous edition.
The global ranking is led by New York (759 points), followed by London (726), Hong Kong (715), Shanghai (714), Los Angeles (713), Singapore (712), San Francisco (711), Beijing (710). ), Tokyo (708) and Shenzhen (707). Of the top 10 most influential cities in the financial sector, six are asianthree Americans and one European.
As for the European ranking, behind London, Paris, Frankfurt and Madrid are Amsterdam (687 points), Zurich (686), Edinburgh (684), Geneva (678), Stockholm (677) and Luxembourg (676). The largest European collapses are those of the German city of hamburg (which falls 11 positions and is now in position number 16) and that of stuttgart (falls 23 places).
How is the report prepared?
The consulting firm Z/Yen Partners carries out a macro-probing among professionals in the financial sector and collects some 12,000 responses. Afterwards, according to Free market, the results of the surveys are combined with different indicators related to telecommunications and technology infrastructures, the ease of doing business, good governance, the absence of corruption, etc. The UN, the World Economic Forum, the World Bank or International Transparency contribute nearly 150 factorss with which the consultant prepares the final results. According to the report’s website, the next edition will be published in September 2022.