London Regains Top Spot as the World's Leading Financial Hub

Luminary Times31 Aug, 2024Business

London has reclaimed its position as the world's number one financial centre, surpassing New York in the latest annual ranking by the Corporation of the City of London. This year's research, which evaluated 101 metrics, placed London ahead after tying with New York in the previous year. The metrics considered various factors, including the "reach of financial activity" and "business infrastructure resilience." London's Strengths in Sustainable Finance and Talent Despite facing challenges such as a decline in capital markets activity and assets under management. London excelled in categories like "sustainable finance" and "talent and skills," which helped it secure the top spot. The city's performance in these areas offset a dip in traditional market actions, allowing it to rise in the rankings even though its overall score declined.