Baku took the 107th place in the ranking of the largest financial centers of the world. This was reported by the Financial Consulting Company Z / Yen Group Ltd., which twice in the year publishes the ratings of the largest financial centers of the world (the Global Financial Centers Index – Global Financial Centres Index). We are accustomed to seeing Baku and Azerbaijan in general in the first ten or twenty, and at worst in the first half of the list in many ratings, which lead periodically different international structures. And the 107th place, and even among 114 leading financial centers of the world somehow it is not entirely clear.
Rather, it is clear that Baku is far to New York, London, Shanghai, Tokyo and other financial centers of the world. The financial glory of some cities has hundreds, and others – dozens of years. And Baku in this respect with them is really difficult to hone. And how to take it, if the high financial rating needs high economic achievements of the whole country. It is not by chance that in such economically developed countries, as the United States, China and others, at once several large cities found themselves in the list of Z / Yen Group Ltd., and many of them occupy leading places in the list.
So, New York remains the leader in the ranking of the largest financial centers of the world. He overtakes London, occupying a second position, at 21 points. In turn, the Shanghai going to the third place is inferior to the British capital just 1 point. Next also with small lags follows a number of Asian cities – Hong Kong, Singapore, Beijing, Tokyo and Shenzhen. At the same time, the Japanese capital lost three positions at once, while other cities rose in the ranking. And only at the end of the top 10 there are two more representatives of Europe – Frankfurt and Zurich. At the same time, the German city turned out of the “Dozens” San Francisco – probably learned from the exit of the UK from the European Union.
Global Financial Center Index (GFCI) is a rating of competitiveness of financial centers based on more than 29 thousand assessments of world financial centers based on an online questionnaire together with more than 100 indices of organizations such as the World Bank, the Organization of Economic Cooperation and Development (OECD) and Economist Intelligence Unit. The first index was published in March 2007. It is published twice a year together with the Z / Yen Group in London and the Chinese Development Institute in Shenzhen since 2015 and is widely cited as the main source of the rating of financial centers. And about the significance of the rating in the modern world, we wrote more than once.