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Caribbean IFCs Ranked Highly In Latest Financial Centers Index

by Mike Godfrey, Lowtax.net, Washington
20 September, 2017

Caribbean nations have a had strong showing in the latest edition of the Global Financial Centres Index (GFCI 22) published by leading City of London think tank Z/Yen.

The index is published each March and October and ranks major financial centers based on objective evidence of competitiveness from a wide variety of comparable sources, as well as responses to an online questionnaire. The latest index featured 108 international financial centers.

Bermuda remains the leading specialist financial center in the Caribbean region coming in at 29th in the index, up 13 points on a 1,000-point scale, and rising two places compared with the last edition of the index. The Cayman Islands was second in the region and 31st in the overall rankings, rising one place.

The British Virgin Islands and the Bahamas rose strongly up the index. The BVI's score was 38 points higher and it jumped 14 places, while the Bahamas gained 32 points and two places.

Trinidad and Tobago was 65th place, falling 5 places since its last ranking, but gaining an extra 15 points.

European "island" international financial centers did well also. The British Crown Dependencies – Jersey (40th), Guernsey (41st), and the Isle of Man (56th) – all performed strongly and Gibraltar (75) and Malta (85) improved.

London remained top of the index, followed by New York. Hong Kong closed the gap on New York, in third place, and Singapore was fourth. Zurich placed ninth, up two places on the last index.

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