Astana leads the Eastern Europe & Central Asia region in the Global Financial Centres Index
The latest edition of the Global Financial Centres Index (GFCI 36) highlights key changes in the world’s financial centres. 133 financial centres were analysed, of which 121 were included in the main index, Kazinform News Agency correspondent reports, citing Longfinance.
New York retains its lead, remaining in first place, followed by London and Hong Kong, which has overtaken Singapore to return to third place. Among the top performers were Bermuda, up 27 places, Doha (+24 places), Riyadh (+21 places) and Guernsey (+20 places).
There is little change in the ranking of the leading centres, with only Dublin improving more than four rank places - up 11. This continues to suggest no major changes in the economic outlook across the leading economies in the world, with slow but continued growth and inflation falling.
Overall, the average rating across all centres was down 0.42%, suggesting little change in confidence in the financial sector, with the average rating for centres in Latin America & The Caribbean up 0.65% - the only region in which ratings increased.
Eastern Europe and Central Asia region
The region has seen a slight drop in the rankings of most financial centres, with Tallinn, for example, losing 10 places in the rankings, falling to 91st place. The average rating change across this region was a fall of just 0.13%
However, Astana continues to strengthen its position as a leading financial centre in the region, moving up 4 places to 62nd in the global ranking. Almaty city also showed significant improvement, moving up 12 places to rank second in the region after Astana and 86th globally.
Key challenges facing international financial centres
The study identified key challenges for international financial centres in the medium term. More than 20% of respondents named geopolitical risks as the main threat. Competition between centres and regulatory requirements were also noted by 15% and 14% of respondents, respectively.
