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      Luxembourg climbs up in Global Financial Centres Index

      Luxembourg climbs up in Global Financial Centres Index

      Luxembourg ranks 12 in the newly published Global Financial Centres Index, moving up one position compared to last year. It is considered an emerging global contender, indicating its huge potential. The index is based on a set of rules measuring connectivity, broadness of services and specialization of a financial centre.

      Amongst the ten financial centres to become more significant in the next few years, Luxembourg finds itself before London and is thus one of only two European centres to rank in this table.

      In Europe, Luxembourg is the fifth top financial centre after London, Zurich, Geneva and Frankfurt. The Grand Duchy saw its rating rise by 11 points to 707 points.

      European financial centres in general gain weight again according to the index. Out of the top centres, only London suffered a decline of ten points and looses its leading position to New York.

      Since the first edition of the GFCI in 2007, Luxembourg has continuously climbed, reflecting its important stand in the global world of finance.