Finance

The Grand Duchy - a financial marketplace of choice

The 21st edition of the Global Financial Centres Index has just been published. The Grand Duchy ranks 18th worldwide, and 1st in the euro area.

29-financeThe London consultants Z/Yen have just published their latest report on the competitiveness of the world's financial centres. The global ranking lists 88 centres; the Grand Duchy has held its position as leader in the euro area for the past four years.

The Grand Duchy - the top financial centre in the euro area

With more than 140 banks in the country, the Grand Duchy is way ahead of its neighbours as the financial centre of choice. This puts the country right at the top of the ranking for the euro area, among the leaders – with a 3rd place in Europe, and in the top 20 globally (18th place).

For ease of viewing, here are the top ten financial centres in the world, in Europe, and in the euro area:

EURO AREA
EUROPE
WORLD
1. Luxembourg

London

London

2. Frankfurt

Zurich   

New York

3. Munich

Luxembourg

Singapore 

4. Paris

Geneva               

Hong Kong

5. Dublin 

Frankfurt

Tokyo

6. Amsterdam

Munich                

San Francisco

7. Riga

Paris      

Chicago

8. Brussels 

Dublin

Sydney

9. Milan 

Amsterdam

Boston

10. Vienna 

Jersey

Toronto


A convincing business environment

The Global Financial Centres Index uses five categories of indicators in establishing its ranking: business environment, development of the financial sector, infrastructures, human resources, and reputation.

The Grand Duchy is performing particularly well in the business environment category (12th place, up 3 places since the last report), which covers regulation, taxation, etc., and in the human resources category (14th place, down 1 place), which covers training, flexibility, etc.     

 

(article written by the editorial team of the portal luxembourg.lu)

  • Updated 27-04-2017