Zurich and Geneva among Top 20 Financial Centers

On the 22nd Global Financial Centers Index (GFCI22) that was released early September 2017 Zurich gains two places and is again in the top ten of the world’s most important financial centers. Geneva climbs the index by five and ends up on the 15th place. The top three places are occupied by London (1st), New York (2nd) and Hong Kong (3rd).

Entrance of SIX Swiss Exchange
With a 9.4% share of GDP, the financial sector is one of the most important elements of the Swiss economy.

The GFCI was first released in March 2007. Since then, Z/Yen, in close collaboration with the China Development Institute (CDI), continuously updates the index every March and September. The GFCI provides evaluations of competitiveness and rankings for the major financial centers around the world. More than 100 aspects are being evaluated and categorized within the five major topics of Business Environment, Human Capital, Infrastructure, Financial Sector Development and Reputation. The GFCI is highly regarded by the global financial community, since it is considered a valuable reference for policy and investment decisions.

Human Capital as top asset

On the GFCI22 Zurich scores an overall rating of 704 and makes it on the 9th place. It performs particularly well in the area of Human Capital (7th). In Business Development it is regarded the ninth best center worldwide. When it comes to Infrastructure and Reputation, Zurich is considered 11th and the Financial Sector Development places 12th. Within Europe Zurich is the second most important financial center behind London, which has been the leader of global financial centers since 2013.

The second Swiss financial center on the index takes a big step forward and places 15th (20st on the GFCI21). Geneva receives an overall rating of 694, only 10 less than Zurich. It also shows its strengths in the domain of Human Capital (14th). On a European level, Geneva is also strongly competitive and comes in 5th, behind London, Zurich, Frankfurt and Luxembourg.

Switzerland as a financial hub

The financial sector is one of the most important elements for Switzerland’s economy. It amounts to a 9.5% share of the GDP. Whether it be for asset management, insurance, or as a trading platform for commodities, Switzerland belongs to the world’s most important financial centers.

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Thanks to its political and macroeconomic stability, Switzerland offers a strong and trustworthy foundation in a business sector that can become extremely volatile at times. Therefore, Switzerland is an attractive financial market on a national as well as an international level.

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