Capital city of Kazakhstan improves its position in global ranking of financial centers
Astana has improved its ranking by four positions, taking 62nd place in the Global Financial Centers Index (GFCI) compiled by the Z/Yen Group Ltd., a U.K.-based consulting company. The capital city of Kazakhstan bypasses many of its peers in Eastern Europe and Central Asia. Almaty ranks significantly lower, at 86th, although it has improved by twelve notches since March.
The rating is based on three key criteria: telecommunication infrastructure, business environment and corruption perception. Z/Yen Group also conducts an online survey among center representatives to gather their ratings.
New York has held the top position since 2018, followed by London in second place. Hong Kong has advanced by one notch to third, while Singapore and San Francisco round out the top five.
The top 10 financial centers in the world also include Chicago, Los Angeles, Shanghai, Shenzhen and Frankfurt.
The ranking consists of 121 cities. Moscow and Saint-Petersburg are near the bottom, scoring 119 and 118 points, respectively, outperforming only Baku (Azerbaijan) and Buenos Aires (Argentina).
The most significant improvements in the ranking were made by Bermuda (+27 positions), Qatar’s Doha (+24 positions), and Saudi Arabia’s capital Riyadh (+21 positions). In contrast, Rome and Stockholm dropped in the ranking by 22 and 16 positions, respectively.
The first GFCI index was released in 2007. The previous rating, based on interviews with approximately 8,500 respondents, was published in March 2024.
