On September 11, 2017 Z/YEN published its twenty-second Global Financial Centres Index (GFCI 22). This index is widely quoted as a source for ranking financial centres. The Bahamas saw a strong rise in its rank and ratings moving up two (2) places in rank and increased its ratings by thirty-two (32) places. The ranking is an aggregate of indices from five key areas: “business environment”, “financial sector development”, “infrastructure factors”, “human capital”, “reputation and general factors”.
Tanya McCartney, CEO & and Executive Director of The Bahamas Financial Services Board in response to the release stated that “This is good news and serves as a reminder that we must continue to work on those areas that impact the perceived competitiveness of The Bahamas as an international financial centre. Improving ease of doing business must continue to be a priority. Industry continues to collaborate with the government in this regard. We also encourage policy makers to focus on policy positions that support continued growth and development of this important sector including tax and immigration which impact the business environment and reputation of The Bahamas as an international financial centre.”
Overall, Latin American and Caribbean centres did well in GFCI 22. Other noteworthy results from GFCI 22 were:
- There was little change in the top five positions.
- Western European financial centres are still volatile.
- The leading financial centres in the Asia/Pacific region fell in the ratings.
- All centres in North America fell in the GFCI ratings.
- All of the Eastern European centres rose in the ratings.
In March 2007, Z/Yen released the first edition of the GFCI, which continues to provide evaluations of competitiveness and rankings for the major financial centres around the world. The GFCI is updated every March and September and continues to receive considerable attention from the global financial community. Further information can be found at longfinance.net.
Tanya McCartney, CEO & Executive Director – firstname.lastname@example.org Tel: 393 7001