First of all, it is necessary to indicate that a financial center refers to a city with a strategic location in addition to financial institutions, leaders, renowned stock exchanges, a dense concentration of public and private banks and commercial and insurance companies.
In addition, it is important to emphasize that these centers are equipped with first-class infrastructure, communications, and commercial systems, and there is a transparent and solid legal and regulatory regime backed by a stable political system. There is no doubt that these cities are favorable destinations for professionals due to the high standards of living they offer along with the immense opportunities for growth.
Likewise, cities that are concentrations of commerce, real estate, and banking tend to become global financial centers. Clearly, these important cities employ a large number of financial professionals and are home to the stock exchanges and corporate headquarters of investment banks.
Main financial cities of the world
It should be noted that some financial centers that have been uncontested leaders in the past now face stiff competition from existing players and emerging and vibrant participants. The list to be presented is indicative of where the main financial centers are and there are many other names, including Toronto, Seoul, Boston, Geneva, San Francisco, Sydney, Luxembourg, and Dubai, also among the main financial centers.
Here is a small look at the major financial centers around the world, in no particular order. Found throughout the world, examples include New York City, Frankfurt, and Tokyo.
- London
- Singapore
- Zurich
- New York
- Hong Kong
- Chicago
- Tokyo
- Frankfurt
Source: Prableen Bajpai | Investopedia
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