Luxembourg confirmed as leading Eurozone financial centre, second in the EU
Luxembourg consolidates its position as the Eurozone’s leading financial centre and 2nd in the EU after London, according to the latest Global Financial Centres Index 21, published today. It thereby again outranks other EU financial centres such as Frankfurt, Dublin, Paris and Amsterdam. The Luxembourg financial centre was able to maintain its prominent position for the fourth consecutive year.
Furthermore, Luxembourg remains the only European financial centre likely to become more significant in the future.
Having specialized in international cross-border services, the country is an important connection point for international investors in Europe and beyond. Major international financial institutions are serving the EU Single Market out of Luxembourg. Luxembourg is moreover the largest investment fund centre in Europe, second to the United States globally, and hosts more than 140 international banks. The financial centre is also committed to leading the drive towards digital financial services and playing a pioneering role in climate finance. It is one of the leading European hubs for Renminbi business.
The overall ranking saw European financial centres loose ground to Asian and American hubs.
The GFCI is published by Z/Yen in London and is based on a global industry survey as well as in-depth study of a number of competitiveness factors, such as business environment, human capital, taxation, reputation, infrastructures and financial sector development.