Europe s New Financial Centre(s)

Transcription

1 Europe s New Financial Centre(s) The Group 41 Lothbury London EC2R 7HG United Kingdom tel: +44 (20) Mark Yeandle MBA FCIM

2 Research Financial Centres

3 A Recognised Taxonomy Areas of Competitiveness Business Environment Human Capital Infrastructure Financial Sector Development Reputation Political Stability and Rule of Law Availability of Skilled Personnel Built Infrastructure Depth and Breadth of Industry Clusters City Brand and Appeal Institutional and Regulatory Environment Flexible Labour Market ICT Infrastructure Availability of Capital Level of Innovation Macroeconomic Environment Education and Development Transport Infrastructure Market Liquidity Attractiveness and Cultural Diversity Tax and Cost Competitiveness Quality of Life Sustainable Development Economic Output Comparative Positioning with Other Centres

4 The GFCI Process Instrumental Factor Instrumental Factor Factor of Competitiveness Factor of Competitiveness Instrumental Factor Instrumental Factor Instrumental Factor Factor of Competitiveness Factor of Competitiveness Factor of Competitiveness Instrumental Factor Updates GFCI 23 uses 103 Instrumental Factors Financial Centre Assessments from Online Questionnaire Change in Financial Centre Assessments GFCI 23 uses 28,599 assessments from 2,340 respondents Instrumental Factor Prediction Engine (SVM) Updated GFCI

5 Headlines Top 25 Centre GFCI 23 GFCI 22 Change in Change in Rank Rating Rank Rating Rank Rating Region London Western Europe New York North America Hong Kong Asia/Pacific Singapore Asia/Pacific Tokyo Asia/Pacific Shanghai Asia/Pacific Toronto North America San Francisco North America Sydney Asia/Pacific Boston North America Beijing Asia/Pacific Melbourne Asia/Pacific Montreal North America Chicago North America Vancouver North America Zurich Western Europe Los Angeles North America Shenzhen Asia/Pacific Dubai Middle East & Africa Frankfurt Western Europe Luxembourg Western Europe Cayman Islands Latin America & the Caribbean Osaka Asia/Pacific Paris Western Europe Abu Dhabi Middle East & Africa

6 Headlines - Regions The mean of the top five centres by region. North America and Western Europe are now behind Asia/Pacific Asia/Pacific Western Europe North America Middle East & Africa Latin America & the Caribbean Eastern Europe and Central Asia

7 Headlines Top Five New York, London, Hong Kong, and Singapore remain the five leading global financial centres. 850 New York / London Trend Hong Kong / Singapore Trend London New York Hong Kong Singapore Tokyo

8 What s On People s Minds Area of Competitiveness Number of Mentions Business Environment 712 Human Capital 684 Taxation 567 Reputation 544 Infrastructure 481 Financial Sector Development 442 Main Issues Brexit continues to be a major source of uncertainty for all the EU Corruption and the rule of law are beig mentioned more and more Protectionism and barriers to international trade concern many - especially in the USA Language skills remain vital and Asia recognises the need for English Terrorism, personal safety and human rights are becoming ever more important Greater international harmonisation needed Brexit will lead to higher taxes in EU More promotion of a centre is needed as compewtition increases A reputation as a good and safe place to live grows in importance The infrastructure for FinTech is becoming vital Great need for increase air travel connectivity in some financial centres Will London become an 'also-ran' after Brexit? Fear of clustering being threatened by protectionism

9 Western Europe Top 20 Centre GFCI 23 GFCI 21 Change in Change in Rank Rating Rank Rating Rank Rating London Zurich Frankfurt Luxembourg Paris Geneva Hamburg Dublin Munich Jersey Madrid Stockholm Edinburgh Glasgow Amsterdam Guernsey Monaco Oslo Isle of Man Copenhagen

10 Five Truths About Financial Centres You can t be an international centre without international people Successful people want to live in successful places People want to live in cosmopolitan places and gravitate to clusters Reputation is vital: It takes 20 years to build a reputation and five minutes to ruin it Trust is the glue that holds all relationships together

11 Treat All-Comers Fairly

12 The Main European Contenders Centre GFCI 23 GFCI 22 Change in Change in Rank Rating Rank Rating Rank Rating London Frankfurt Zurich Paris Dublin London Frankfurt Zurich Paris Dublin

13 The Main European Contenders Banking Sub-Index Centre GFCI 23 Banking Rank Rating Rank Rating Influence London Zurich Frankfurt Paris Dublin Insurance Sub-Index Centre GFCI 22 Insurance Rank Rating Rank Rating Influence London Zurich Frankfurt Paris Dublin Investment Management Sub-Index Centre GFCI 22 Investment Rank Rating Rank Rating Influence London Zurich Frankfurt Paris Dublin Professional Services Sub-Index Centre GFCI 22 Professional Services Rank Rating Rank Rating Influence London Zurich Frankfurt Paris Dublin

14 The Main European Contenders Infrastructure Factors London Frankfurt Zurich Paris Dublin IF01 Office Occupancy Cost IF02 Prime International Residential Index IF03 JLL Real Estate Transparency Index IF04 ICT Development Index IF05 Telecommunication Infrastructure Index IF06 Quality of Domestic Transport Network IF07 Quality of Roads IF08 Roadways per Land Area IF09 Railways per Land Area IF10 Networked Readiness Index IF11 Energy Sustainability Index IF12 Metro Network Length IF14 Environmental Performance IF15 Global Sustainable Competitiveness Index IF16 Logistics Performance Index IF17 Networked Society Index IF18 TomTom Traffic Index

15 GFCI 24 September Participate yourself at: