Qatar has confirmed tip ranking in a Middle East segment in Global Financial Centers Index, GFCI 15, that covers 83 financial centres opposite a world.
Qatar’s rating rose by 15 points, especially driven by a augmenting competitiveness and viewed stress as a financial centre and a ranking stands only forward of Dubai in a Middle East region, pronounced GFCI 15, that was expelled yesterday by a London formed Z/Yen Group.
The index also saw a ratings of Bahrain, Riyadh and Abu Dhabi in a segment also go up. Qatar confirmed a heading position, though altogether it is ranked 26 on a universe scale.
Qatar’s normal tellurian comment is 694 and a ex-regional normal is 690, somewhat adult from 690 and 683 respectively in GFCI 14.
“Qatar’s position and arise in a ratings reflects how good a economy is performing, a rival business sourroundings and a universe category legal, regulatory and taxation height a Qatar Financial Centre offers all firms to grow their businesses in Qatar and a broader GCC (Gulf Co-operation Council) region,” QFC Authority CEO Shashank Srivastava said.
All regions, solely Europe and a offshore centres, have given enlightened assessments to Qatar with a Americas being significantly some-more enlightened than a Middle East/Africa and Asia/Pacific respondents, GFCI 15 said.
The biggest gains in a rival Middle East and Africa segment were seen in Riyadh, that jumped 16 places to 31st position in a world; Bahrain by 12 places to 40th; Tel Aviv by 11 places to 21st and Johannesburg by 11 places to 50th. Abu Dhabi jumped 10 places to 32nd.
However, Istanbul declined 3 places to 47th and Casablanca entered a GFCI for a initial time in a 62nd place.
GFCI 15 uses 25,441 financial centre assessments finished by 3,246 financial services professionals.
The GFCI is updated frequently and ratings change as assessments and instrumental factors change.
“In a GCC, Qatar, Bahrain, Riyadh and Abu Dhabi all boost their ratings. Yet in Europe, 23 of 27 European centres decline. Financial centre care is increasingly capricious in a universe of handicapped financial systems,” Prof Michael Mainelli, executive authority of a Z/Yen Group, said.
The evident story of GFCI 15 is that New York City overtakes London. But that misses a bigger design as Hong Kong and Singapore continue to benefit opposite both normal leaders, he added.