Global Financial Centres Index
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The Global Financial Centres Index is a ranking of the competitiveness of financial centres based on 11,685 financial centre assessments from an online questionnaire together with over 60 indices. It is published twice a year by the City of London Corporation.
The ranking is an aggregate of indices from five key areas: People, business environment, market access, infrastructure and general competitiveness. The current top ten places are London, New York, Hong Kong, Singapore, Zurich, Frankfurt, Geneva, Chicago, Sydney and last Tokyo.[1]
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[edit] Key Areas
The people index summarizes the availability of a skilled workforce, the flexibility of the labour market, the quality of the business education and the skillset of the workforce. The business environment aggregates and values the regulation, tax rates, levels of corruption, economic freedom and how difficult in general it is to do business. To measure regulation an online questionnaire has been used. The market access index looks at the various equities and bonds available. The volume and value of trading but also the cluster effect of the number of different financial service companies at the location influence the index. The infrastructure index furthermost accounts to the price of real estate at the location. Other factors as public transport have a minor impact. General competitiveness relies on more traditional economic factors as price level, quality of life and economic sentiment.[1]
[edit] Industry Sectors
The ranking does sub rankings in the main area of financial services as banking, asset management, insurance, professional service, government and regulation.[1]
[edit] Connectivity
How much does a location take responsibility for or enables connection to others. This can be the flow information, people or traded services. A way chosen to measure this connections is by quantifing the knowledge about a certain location by people at the other locations. The best-known places are London, New York and Hong Kong. A second measurement is based on MasterCard credit-cards published information on inter-city connectivity.[1]
[edit] References
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