{"id":342573,"date":"2019-09-23T12:53:14","date_gmt":"2019-09-23T10:53:14","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=342573"},"modified":"2019-09-23T12:58:37","modified_gmt":"2019-09-23T10:58:37","slug":"south-africas-financial-centre-is-not-where-you-think-in-new-ranking","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/342573\/south-africas-financial-centre-is-not-where-you-think-in-new-ranking\/","title":{"rendered":"South Africa’s financial centre is not where you think in new ranking"},"content":{"rendered":"

New York is the world\u2019s top financial centre according to the latest Global Financial Centres Index (GFCI 26) by Z\/Yen Partners and the China Development Institute (CDI).<\/p>\n

The GFCI receives considerable attention from the global financial community, serving as a valuable reference for policy and investment decisions.<\/p>\n

The ranking is based on 134 instrumental factors, including quantitative measures provided by the World Bank, The Economist Intelligence Unit, the OECD, and the United Nations.<\/p>\n

New York retains its first place in the index, extending its lead over London from seven to 17 points.<\/p>\n

Trade wars, geopolitical unrest, and Brexit are introducing significant adjustments to medium-term perceptions, the report said.<\/p>\n

“Competition at the top of the GFCI is intensifying. London is in a \u2018slipping second\u2019 position globally and a \u2018slipping first\u2019 in Europe amidst high volatility emanating from policy uncertainties, Brexit, trade wars, and geopolitical unrest. Asian centres and a resurging Paris are fighting for that second place spot,” said professor Michael Mainelli, executive chairman of Z\/Yen.<\/p>\n

Hong Kong is now only two points behind London, while Singapore and Shanghai remain in fourth and fifth position respectively.<\/p>\n

Shenzhen, Dubai, and Sydney entered the top 10 – easing out Toronto, Zurich, and Frankfurt.<\/p>\n

\"\"<\/a><\/p>\n

South Africa<\/strong><\/p>\n

South Africa has two major cities in the ranking, with Cape Town officially overtaking<\/a><\/strong> Johannesburg in the 2018 rankings.<\/p>\n

While Cape Town extended its lead in this year’s ranking both cities fell in the overall rankings.<\/p>\n

Johannesburg is now ranked 81st in the world (down 33 places) while Cape Town was ranked 63rd (down seven places).<\/p>\n

Cape Town has increased\u00a0 its appeal as a tech hub with a growing startup culture. It is also home to a number of large companies including Investec, and Capitec.<\/span><\/p>\n

\"\"<\/a>Looking at the rest of the Middle-East and Africa, Dubai, Casablanca, Tel Aviv, and Doha continued to rise in the index, with Dubai entering the top ten in the world.<\/p>\n

There were also significant improvements for Mauritius, Bahrain, and Nairobi.<\/p>\n

\n

Read: Why investors are choosing Morocco over South Africa<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

New York is the world\u2019s top financial centre according to the latest Global Financial Centres Index (GFCI 26) by Z\/Yen Partners and the China Development Institute (CDI).<\/p>\n","protected":false},"author":10,"featured_media":274233,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[14381,26,12957],"class_list":["post-342573","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-global-financial-centres-index","tag-headline","tag-z-yen"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/342573","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=342573"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/342573\/revisions"}],"predecessor-version":[{"id":342647,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/342573\/revisions\/342647"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/274233"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=342573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=342573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=342573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}