site.btaSofia up by 18 Points in Global Financial Centres Index, Ranks 79th out of 112

107 ECONOMY - BULGARIA - FINANCE INDEX

Sofia up by 18 Points
in Global Financial Centres Index,
Ranks 79th out of 112


New York, March 11 (BTA) - Sofia is 79th in the latest Global Financial Centres Index (GFCI) ranking, published by the Z/Yen Group financial website in March 2019. The Bulgarian capital has moved up by 18 points compared to the previous edition of the GFCI, published in September 2018.

New York remains in first place in the index, seven points ahead of London, which dropped 5 points from the previous year. Hong Kong is only four points behind London in third and Singapore remains in fourth place; Shanghai remains ahead of Tokyo in fifth place in the index although Tokyo gained ten points in the ratings; Toronto rose 27 points and gained four places to seventh. Zurich, Beijing, and Frankfurt remained in the top ten, the Z/Yen Group financial website summarized.

The Global Financial Centres Index was first published in March 2007 and instrumental factors used in its current model are grouped into five broad areas of competitiveness: Business Environment, Human Capital, Infrastructure, Financial Sector Development, and Reputation, according to the GFCI 25. March 2019 sees publication of the twenty-fifth edition of the GFCI and it includes 112 major financial centres around the world. LY/DT




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