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CEOWORLD magazine - Latest - Money and Wealth - International Financial Centers Ranking, 2023

Money and Wealth

International Financial Centers Ranking, 2023

Financial Center

The world’s most attractive financial centers, 2023: London ranked first as the most attractive financial centers worldwide for 2023 by the CEOWORLD magazine, followed by New York and Singapore. The ranking is based on an index for global financial hub rating, in which many factors are integrated. London scored 960 points, followed by New York, with 957 points. Hong Kong was fourth in the latest International Financial Centers Ranking, and Amsterdam was fifth.

Zurich was 6th, with Tokyo, Paris, Luxembourg, and Munich rounding out the top 10. What are the factors that separate mere bustling metropolises from international financial centers?

International Financial Centers Index ranks the competitiveness of global financial hubs based on assessments from a questionnaire together with over 50 indices from organizations such as the Organisation for Economic Co-operation and Development (OECD), the World Bank, and the Economist Intelligence Unit. International Financial Centers Index, compiled by the CEOWORLD magazine, ranks 115 global financial centers and uses data collected from thousands of financial services professionals and global bankers responding to the questionnaire.

A financial hub or center is a city or region with a strategic location in the financial industry. A place where various financial sector participants, such as banks, trading companies, stock exchanges, and other institutions, are concentrated in one area. Financial centers can be characterized by a solid infrastructure, stable regulatory and political environments, attractive taxation rules, and the availability of various opportunities to help trade and business growth.

According to a survey carried out by the CEOWORLD magazine among financial services professionals and global bankers in 2023, the most critical factors determining the competitiveness of a financial center were business environment, reputation, and infrastructure.

Index provides evaluations of future competitiveness and rankings for 115 financial centers around the world.  Not surprisingly, London again topped the list (as it was in 2022), and New York took the number two spot, followed by Singapore and Hong Kong.

The ranking is based on a global online survey of 220,000 financial professionals and international bankers, who evaluated 900 cities on 50 factors in 7 broad areas of competitiveness, including business environment; size & volume of financial activities; capital market size; human capital availability; a base for business; reputation; and international wealth management. London held on to the top stop with 960 points, while New York dropped 3 points to 957, just one point ahead of Singapore. The data was based on responses up until the end of March 2023.

International Financial Centers Ranking, 2023

RankCityCountry or TerritoryRating
1LondonUnited Kingdom960
2New York United States957
3SingaporeSingapore956
4Hong KongHong Kong948
5AmsterdamNetherlands947
6Zurich Switzerland944
7Tokyo Japan941
8ParisFrance935
9Luxembourg Luxembourg 932
10MunichGermany929
11Los AngelesUnited States923
12Dubai United Arab Emirates922
13San FranciscoUnited States920
14Frankfurt Germany918
15BeijingChina915
16Stockholm Sweden914
17Geneva Switzerland911
18BrusselsBelgium910
19Boston United States908
20Abu Dhabi United Arab Emirates905
21Madrid Spain904
22ChicagoUnited States900
23SeoulSouth Korea898
24ShenzhenChina897
25Washington DC United States896
26Edinburgh United Kingdom884
27TorontoCanada883
28SydneyAustralia882
29Guangzhou China880
30Montreal Canada879
31CopenhagenDenmark877
32OsloNorway873
33Milan Italy871
34Berlin Italy869
35DublinIreland868
36RomeItaly867
37WellingtonNew Zealand852
38Vienna Austria851
39Calgary Canada850
40Kuala Lumpur Malaysia849
41MoscowRussia845
42Glasgow United Kingdom844
43Melbourne Australia843
44BusanSouth Korea842
45LisbonPortugal836
46Chengdu China830
47VancouverCanada827
48Helsinki Finland822
49MumbaiIndia821
50Hamburg Germany814
51Osaka Japan812
52Casablanca Morocco806
53Cape Town South Africa802
54Johannesburg South Africa800
55Tel Aviv Israel799
56New DelhiIndia798
57WarsawPoland790
58Mexico CityMexico789
59Bangkok Thailand788
60Stuttgart Germany785
61Rio de Janeiro Brazil780
62LuganoSwitzerland778
63Sao Paulo Brazil777
64Nur-Sultan (Astana)Kazakhstan775
65Cyprus Cyprus 774
66AtlantaUnited States773
67Istanbul Turkey769
68Doha Qatar767
69Taipei Taiwan766
70Athens Greece765
71JerseyJersey761
72Prague Czech Republic759
73Jakarta Indonesia758
74Almaty Kazakhstan755
75Cayman Islands Cayman Islands 754
76LiechtensteinLiechtenstein753
77RiyadhSaudi Arabia752
78Mauritius Mauritius 745
79Santiago Chile742
80Monaco Monaco 739
81BogotaColombia738
82Guernsey Guernsey 735
83San Diego United States733
84BahrainBahrain725
85Isle of Man Isle of Man 722
86Malta Malta 720
87BudapestHungary719
88British Virgin Islands British Virgin Islands 718
89Ho Chi Minh CityVietnam710
90TallinnEstonia705
91Tianjin China704
92Trinidad and Tobago Trinidad and Tobago 698
93Hangzhou China696
94Dalian China692
95Bahamas Bahamas 691
96Bermuda Bermuda 686
97St Petersburg Russia682
98Sofia Bulgaria679
99Manila Philippines669
100Kuwait City Kuwait667
101Xian China664
102WuhanChina663
103Nanjing China649
104GibraltarGibraltar648
105Reykjavik Iceland646
106Buenos Aires Argentina644
107VilniusLithuania643
108Riga Latvia642
109BarbadosBarbados641
110BakuAzerbaijan639
111PanamaPanama632
112Minneapolis / St PaulUnited States627
113Turks and CaicosTurks and Caicos625
114GothenburgSweden623
115Bratislava Slovakia622

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CEOWORLD magazine - Latest - Money and Wealth - International Financial Centers Ranking, 2023
Anna Papadopoulos
Anna Papadopoulos is a senior money, wealth, and asset management reporter at CEOWORLD magazine, covering consumer issues, investing and financial communities + author of the CEOWORLD magazine newsletter, writing about money with an enthusiasm unknown to mankind. You can follow CEOWORLD magazine on Twitter, Facebook, Instagram, or connect on LinkedIn for musings on money, wealth, asset management, millionaires, and billionaires. Email her at info@ceoworld.biz.