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Dubai has been ranked 16th among 84 global financial centres, ahead of major financial centres such as Montreal, Vancouver, Luxembourg, Shanghai, Melbourne, Munich, Paris, Mumbai, Moscow and Rome, according to the latest 18th edition of Global Financial Centres Index (GFCI 18), published by Long Finance. Long Finance publishes papers under the Financial Centre Futures programme sponsored by Qatar Financial Centre Authority.
Dubai has made strong gains, jumping 7 notches up from 23rd place in the 17th edition of GFCI to 16th in the latest ranking and is ranked top financial centre in the Middle East and Africa region.
Shenzhen, Shanghai and Beijing are ranked in 16th, 19th and 28th places respectively.
Overall, London has moved ahead of New York to reclaim the number one position. London, New York, Hong Kong, and Singapore remain the four leading global financial centres respectively.
The leading three centres in Europe are London, Zurich and Geneva, while Frankfurt has moved up into fourth place just ahead of Luxembourg.
Toronto remains the leading Canadian centre and is now the second North American centre behind only New York.
In Asia Pacific, with the exception of Hong Kong and Singapore, the top Asia/Pacific financial centres have all seen their ratings increase in GFCI 18. Hong Kong, Singapore, Tokyo and Seoul remain in the GFCI Top 10.