London Narrows Gap on New York in Global Financial Centres Index

The recently released Global Financial Centres Index (GFCI 37) confirms New York City as the leading global financial center, a position it has maintained since 2018, with a score of 769. London, in second place with a score of 762, is closing the gap, having improved significantly from 750 last year. Hong Kong retains its third position, while notable movements include Seoul re-entering the top ten and Dublin rising significantly. Despite these advancements, concerns about London's long-term competitiveness persist, especially following Brexit and recent economic challenges. Policymakers are working on reforms to boost the UK's financial sector, but business confidence remains shaky. Overall, the results reflect a dynamic landscape where London is gaining ground, yet faces hurdles in maintaining its status as Europe's premier financial hub.