New York leads global financial centers for the sixth year in a row… London comes in second

New York City has maintained its position as the world’s largest financial centre, strengthening the position it has held over the past six years after overtaking London, and has since held second place, ahead of Singapore, the latest ranking of global financial centers showed.

According to Al Arabiya, Hong Kong is still in fourth place, followed by San Francisco, thanks to its strong role in technology financing.

New York overtook London in 2018, after Britain voted to leave the European Union two years earlier, raising questions about London’s ability to remain competitive globally.

The survey ranks 121 financial centers by combining 48,365 ratings, with 8,494 ratings from financial professionals, along with quantitative data from the World Bank, OECD, United Nations and others.

In the field of financial technology, New York maintains its position, followed by London, then San Francisco. While Shenzhen remained in fourth place, Washington, DC, advanced to fifth place, surpassing Singapore.

Seoul joined the top 10 for fintech, replacing Beijing, which fell to 11th place.