The Global Financial Centres Index has come out with the list of the most prominent financial cities in the world. The report is released at the end of each year, which documents the strength of a city in terms of finance and revenue. In this article, we look at the top three cities in the world when it comes to finances.
1. London, England
London remained top of the list yet again and was proclaimed as the economic capital of the world. Many experts believed that Brexit could quite possibly affect the standings, but as data has revealed, London remains an economic juggernaut. The city has a prime location as it is close to a number of European countries and can also be seen as a centre point between the United States and Europe. The city is home to two of the most prominent universities in the world and is in a country with even more top universities; this is not even taking into account the number of top universities that produce top talent in Europe. London’s prime location makes it easy for businesses to attract the best talent that is available on the market. With a population of around 8.3 million people; London has managed to balance the sustained growth of traditionally large organizations and the startup boom flawlessly.
2. New York City, USA
New York encompasses regions such as Washington DC and Boston; making it one of the most collectively prime location. Unlike London which is geographically well located, New York takes advantage of its regional strength and the pull that the United States has in terms of talent acquisition. New York City alone is home to a number of top universities but factoring in Washington and Boston propels New York to a whole different level. The city is home to around 18 million people and continuously draws in top creative talent from around the world that helps the city thrive and grow in the global market.
Singapore is touted to pip New York to second place sooner rather than later. The country is situated in the Malacca Strait, making it one of the luckiest when it comes to geographical capability as the strait alone lets Singapore oversee two-fifths of the maritime trade. The rise of Singapore as an economic powerhouse is due to how business-friendly the government is along with the multilingual capability of the workforce.