Mauritius among the top Global Financial Centres in Africa
Mauritius establishes itself among the front runners in Africa and gains two places, securing the 69th position globally out of 92 international financial centres. The ranking was published in the 22nd edition of the Global Financial Centres Index released on Monday 11th September 2017. London retains its position as the World`s leading centre in terms of economic competitiveness followed by New York as the second best-performing financial centre. Other well-established centres like Singapore, Hong Kong, Tokyo and Shanghai have maintained their respective position.
The Index published by the China Development Institute (CDI) in Shenzhen and Z/Yen Partners in London provides evaluations of competitiveness and rankings for major financial centres around the world and these quantitative measures are provided by third parties including the World Bank and The Economist Intelligence Unit. The measurement rests on five key categories, namely business environment, human capital, infrastructure, financial sector development and reputation.
There is, however, an overall drop in confidence among some centres. Out of the top 25 centres, 23 fell in their ratings and only two moved up. At the lower end of the table, 20 of the 25 lowest-rated centres actually rose in the GFCI ratings. There is little change in the top five positions. London and New York occupy the first and second places. Interestingly, despite the ongoing Brexit negotiations, London only lost two points, the smallest decline in the top ten centres. Hong Kong has moved just ahead of Singapore into the third position with just two points ahead on a scale of 1,000. Tokyo remains fifth. All of the Eastern European centres rose in their ratings. Cyprus, Athens, St Petersburg, and Moscow reversed some of their recent declines.
Latin American and Caribbean centres did well. The Caribbean centres of the British Virgin Islands and the Bahamas witnessed strong moves upward. Sao Paulo and Rio de Janeiro also did well. Buenos Aires joined the main GFCI, but Santiago remains an associate centre having failed to accumulate a sufficient number of assessments to enter the main index.
Download the GFCI 22
12th September 2017