The latest estimates released by the Global Financial Centre Index have placed Dubai among the top 15 countries. The city looms over other global powerhouses like Geneva, Los Angeles, Paris, Vienna and Luxembourg.
The improvement in the city’s ratings can be credited to the foreign companies that consistently invest in the Dubai International Financial Centre. The centre is the most prominent of its kind in the region and registered more than 2300 companies by the middle of this year, which is an 8 per cent jump from last year.
Moreover, the improvement in rankings can also be attributed to the city’s solid infrastructure, a sector in which the city ranks above Frankfurt, Zurich, Paris, Toronto and San Francisco. In terms of human capital and financial sector development, Dubai was ranked ninth leaving behind most of the other financial capitals.
Meanwhile, the city ranked 15th in investment management and professional services, eighth in banking, and ninth in professional services. In the meantime, Abu Dhabi was ranked first in global leaders but slipped to the 26th position worldwide.