The most recent release of the Global Financial Centres Index (GFCI), issued by the UK-based consulting company Z/Yen along with the China Development Institute (CDI), positioned Casablanca at 56th place among around 120 global financial hubs. This represents a rise of one spot from the last ranking.
Casablanca retained its status as the top financial center in Africa, with Mauritius following closely behind at the second spot continentally and ranking 58th worldwide.
Cape Town and Johannesburg in South Africa secured ranks of 84th and 88th globally, respectively. Notably, Johannesburg saw a substantial decline of 13 positions over the course of one year.
In the Middle East, Dubai led the region’s standings, achieving an impressive global rank of 12th spot—a significant leap upward by four places. Meanwhile, Abu Dhabi ranked 38th globally but saw a slight decline, dropping three spots from its previous position.
Riyadh ranked 71st after falling eight places, while Doha came in 73rd. Kuwait, which lost more than 10 positions, was ranked 80th.
Globally speaking, New York maintained its status as the premier financial hub of the world, with London ranking second and Hong Kong holding onto third place.
The top ten featured several U.S. urban centers including Chicago and Los Angeles, alongside major economic forces like Shanghai and Seoul. Towards the lower end of the rankings, Buenos Aires, Argentina, was placed at number 119.
This year’s GFCI report assessed 133 financial hubs, out of which 119 met the necessary conditions for inclusion. The study highlighted that the typical scores across most financial centers rose by slightly more than 2%, indicating robust faith in the financial industry.
Nevertheless, the document pointed out geopolitical strains, rivalry, and changing local and national objectives as significant hurdles for international finance hubs.
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