Key Takeaways
- Dubai has strengthened its position as one of the world’s leading financial centres after being ranked number one globally for FinTech by industry professionals in the latest Global Financial Centres Index (GFCI).
- Dubai also kept its number one position for future potential for the fourth consecutive GFCI report, showing continued confidence in the city’s future as an international financial hub.
- The latest results also confirm Dubai as the only financial centre from the Middle East, Africa and South Asia region to remain among the world’s top ten financial centres.
Dubai has strengthened its position as one of the world’s leading financial centres after being ranked number one globally for FinTech by industry professionals in the latest Global Financial Centres Index (GFCI).
The emirate also ranked second in the world for professional services, while its global reputation ranking improved to sixth place.
Dubai also kept its number one position for future potential for the fourth consecutive GFCI report, showing continued confidence in the city’s future as an international financial hub.
The latest results also confirm Dubai as the only financial centre from the Middle East, Africa and South Asia region to remain among the world’s top ten financial centres.
Dubai takes top position among FinTech professionals
The Global Financial Centres Index is produced by London-based consultancy Z/Yen Group in partnership with the China Development Institute.
The latest GFCI 40 report evaluated 117 financial centres around the world and used 39,531 assessments from 6,147 financial industry professionals. These assessments were combined with more than 140 economic and business indicators to measure the competitiveness of each financial centre.
Dubai ranked first in the FinTech industry category, which is based on assessments provided specifically by professionals working in the FinTech sector.
It is important to note that the GFCI also publishes a separate broader FinTech ranking. In that ranking, Hong Kong took first place. Dubai’s number one result refers specifically to the industry assessment made by FinTech professionals.
Dubai also performed strongly in other areas. It reached second place globally for professional services and sixth place for reputation.
The city was also ranked ninth overall among the world’s financial centres, keeping Dubai inside the global top ten alongside major financial hubs including New York, London, Hong Kong, Singapore, Shanghai and Tokyo.
DIFC continues to support Dubai’s financial growth
Dubai International Financial Centre has played an important role in expanding the emirate’s financial and technology ecosystem.
DIFC has continued to attract banks, investment companies, asset managers, insurance companies, FinTech businesses and technology firms looking to operate in Dubai and access markets across the Middle East, Africa and South Asia.
Essa Kazim, Governor of DIFC, said the latest GFCI results strengthen Dubai’s position as a leading international financial centre and support the ambitions of the Dubai Economic Agenda D33.
DIFC Authority CEO Arif Amiri also highlighted the scale of Dubai’s financial ecosystem, which now covers banking, capital markets, wealth and asset management, insurance and FinTech.
Dubai’s performance in the latest rankings shows that its financial sector is increasingly being recognised not only for traditional banking and investment services, but also for technology, innovation and FinTech.
Its continued number one ranking for future potential is another important indicator, suggesting that financial professionals expect Dubai’s role in the global financial industry to continue growing in the coming years.
