Zurich is ranked in ninth place in the latest edition of the semi-annual Global Financial Centres Index (GFCI), an improvement of two spots over the previous ranking. London came in first, followed by New York, Hong Kong, Singapore, Tokyo, Shanghai, Toronto and Sydney, making Zurich the second most important financial centre in Europe after London. Cities like San Francisco and Boston fell out of the top ten.
Zurich scored especially well in areas like human capital (seventh) and business environment (ninth). It came in 11th in infrastructure and reputation, and 12th in financial sector development.
Joining Switzerland as one of the most important financial centres in the world is Geneva, which moved up five spots to come in 15th in the latest rankings.
The GFCI is released by the British company Z/YEN Group. It takes into consideration over 100 evaluation criteria grouped into five broad factors of competitiveness: business environment, human capital, infrastructure, financial sector development, and reputation.