Global Financial Centres Index 39: A New Era in Financial Competitiveness
The Global Financial Centres Index 39 (GFCI 39), published on March 26, 2026, is one of the world's leading indices for evaluating the competitiveness of financial centers. Co-produced by the Z/Yen Group in London and the China Development Institute (CDI) in Shenzhen, it ranks 120 financial centers. Its rigorous methodology combines 147 instrumental factors from organizations such as the World Bank and the UN, with over 34,400 evaluations from finance professionals.
A Shift in Global Finance
The GFCI 39 tells a story that goes beyond just a ranking. Global finance is no longer centered solely on the Atlantic axis. The Asia-Pacific region now dominates the top of the ranking, with six centers in the global top 10.
Dubai: A Game Changer
The standout fact of this spring 2026 is Dubai's rise to 7th place in the global ranking. This significant, almost brutal, progression is not just symbolic - it's an economic signal. As a city climbs the rankings, it attracts more financial flows, regional headquarters, and international investors.
In the same movement, Chicago and Los Angeles have dropped out of the top 10, sending a clear message: historical balances are no longer guaranteed.
Asia Takes the Lead
While some centers are declining, the Asia-Pacific region is consolidating its dominance, with six centers in the top 10. At the top, Hong Kong has regained its advantage over Singapore, taking 3rd place globally, behind New York City and London. However, the key point is not just the ranking, but the nature of the competition. Asian hubs now dominate FinTech and innovation, with Shenzhen as a prime example. In other words, finance is moving to where technology is accelerating.
Global Financial Attractiveness Erodes
For the first time in a long time, the average score of almost all regions is declining. North America has seen a 1.8% drop in its average rating, with New York being the only city in the region not to see its score decrease. Western Europe has fallen by 1.6%, with only London and Madrid managing to improve their scores. Latin America and the Caribbean have experienced the largest decline, with a 2.5% drop.
The GFCI 39, based on 147 criteria (stability, infrastructure, innovation, transparency, etc.), shows that rising centers are not just gaining points - they are capturing financial flows.
