Top 10 most financially important cities in the world

Based on ratings and rankings of financial centers and a general survey, the world's bankers gathered a list of the most important citites.

New York City is still the most important center in the financial world, according to the latest ranking made by the Long Finance in The Global Financial Index 17. In the latest rankings, it was observed that more cities in Asia are becoming important within the world financial system.

MUNTINLUPA, PHILIPPINES (Catholic Online) - "The GFCI provides profiles, ratings and rankings for financial centers, drawing on two separate sources of data - instrumental factors and responses to an online survey," it says. Here are the top ten most important cities for finance.

 1. New York

One of the traditional cities of finance, "the city that never sleeps" is still at the top of the chart with a rating of 785 points, larger than last time.

2. London

Like New York, London is one of the traditional cities of financial power. It was able to maintain its rank from the GFCI 16 with 784 points, very close to the first ranked.

3. Hong Kong

The former British colony is still in third place, garnering 758 points in rating. Two points more than last year. It is one of the cities with highly-developed transportation systems.

4. Singapore

Formerly under the colonial powers of the British, it seems that this Asian city is truly capable of running its own. Singapore is still ranked at number four but with an increase of eight points in the ratings than last year.

5. Tokyo

Japan is tagged as the Asian model of development, cited in various literatures. Ranking 6th at the GFCI 16, it had gained four more points and became part of the top 5.

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6. Zurich

Switzerland's largest city boasts its large investment in their education. Zurich is one of the world's busiest financial cities and was also part of the list with the highest quality of life for many years. It is now placed at 6th with 719 points in rating.

7. Seoul

The South Korean government is driven to make their economy globally competitive, and with the establishment of the Capital Market act, their institutions are even more improved. It is also one of the cities that ranked higher than the last time, from 8th to 7th.

8. San Francisco

The city had dropped 11 points in rating from GFCI 16, now in 8th place.

9. Chicago

The city from Illinois boosted up on the ratings, from the 12th place into the 9th with 5 points gained.

10. Boston

Slightly went behind because of the increase in points and rating from the aforementioned cities. Boston went from the 9th down to the 10th place, with a point higher than its last year ratings.

With nine cities in the top ten increasing their points in ratings on the current GFCI, its said that overall, they are volatility in ratings is still low. GFCI 17 report was authored by Mark Yeandle.

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