With the rapid expansion and internationalization of the financial industry, competition between cities has intensified, and the importance of implementing measures to maintain or enhance their status as financial centers has grown significantly. Therefore, in the Global Power City Index - Financial Centers (GPCI-Financial Centers), we evaluate the competitiveness of cities as international financial centers from a multifaceted perspective by adding “Finance” function to the six functions of the Global Power City Index (Economy, Research and Development, Cultural Interaction, Livability, Environment, and Accessibility). This allows us to uncover the characteristics, strengths, and weaknesses of each city as a financial center within the global financial system and rank them. We hope that GPCI-Financial Centers will be utilized as an important tool by professionals in the financial industry, policymakers, and investors.
New York secured #1 in five indicators: Stock Market Capitalization, Stock Market Trading Value, World’s Top Asset Managers, International Law Firm Offices, and Financial Industry Related Unicorn Companies.
London maintained its top position in both Foreign Exchange Turnover and Interest Rate Derivatives Turnover within “Foreign Exchange and Interest Rate Markets,” just as it did last year. However, it dropped to #2 in “Highly-Skilled Personnel.”
Tokyo maintained its #1 ranking in the two indicators World’s Top Insurance Company Headquarters and World’s Top Pension Funds, while its ranking in “Financial Instruments Markets” rose from #9 last year to #4.
If you have any questions about the GPCI-2024 Financial Centers, please contact iusall@mori-m-foundation.or.jp