The latest Global Financial Centres Index (GFCI), published by Long Finance and sponsored by the Qatar Financial Centre Authority saw London retaining its position at the top of the table, followed by New York, Hong Kong, Singapore and Zurich.
In terms of offshore centres, Jersey was ranked 20th, Guernsey 28th, the Isle of Man 40th, followed by Cayman Islands (44th), British Virgin Islands (45th) and Hamilton in Bermuda (46th).
Guernsey has moved up three places from the last report, which was published in March this year.
Commenting on the results, Fiona Le Poidevin, chief executive of Guernsey Finance, said: “It is encouraging to see us move up the rankings and in particular that the report specifically highlights that we are one of the two leading offshore centres.”
GFCI reports have been published twice a year for the last six years. The latest report, GFCI 12, says that generally offshore centres suffered significant reputational damage during and in the wake of the financial crisis but now they are starting to make up the lost ground.
Le Poidevin added: “In line with the other offshore centres, we fell in the rankings during the last few years, which was partly as a result of the financial crisis and its effects but also due to the number of centres, particularly from the emerging markets, being taken into consideration within the reports.”
GFCI 12 is published by Long Finance and sponsored by the Qatar Financial Centre Authority. London retained its position at the top of the table, followed by New York, Hong Kong, Singapore and Zurich.
In terms of the other foremost offshore centres, Jersey was ranked 20th, the Isle of Man 40th, followed by Cayman Islands (44th), British Virgin Islands (45th) and Hamilton in Bermuda (46th).
