Edinburgh and Glasgow have improved their position in the latest edition of the internationally recognised Z-Yen Global Financial Centres Index.
On the Western Europe list of the index, Edinburgh is ranked #10 and Glasgow #12.
On the global list, Edinburgh has moved up four places to #29, reclaiming its position in the top 30, while Glasgow has moved up five places to #37, its highest ever position.
Sandy Begbie CBE, Chief Executive, Scottish Financial Enterprise, said: “Scotland’s financial services industry boasts depth and breadth across every sub-sector, a strong record on innovation, access to talent, and expertise in key areas like green and sustainable finance, AI, and asset management.
“The latest GFCI ratings shows that we continue to enhance our global reputation around these key strengths.
“SFE’s sector growth strategy sets out our plan for Edinburgh and Glasgow to continue improving their position in the index, helping them compete with the world’s leading financial centres.
“Today’s news, coupled with recent figures which show the sector is now worth £14.8bn, or 10% of Scotland’s economy, show we are heading in the right direction.
“There is no room for complacency, and we will continue to work with the Scottish and UK governments to make the case for a more competitive business environment so that we can continue to develop our status as a leading financial centre, attracting inward investment and creating high value jobs.”
Mike Wardle, Chief Executive of Z/Yen, said: “Geo-political risks are identified as the greatest challenge facing financial centres and their development.
“However, confidence in leading international financial centres remains strong, and many leading financial centres improved or maintained their rating in GFCI 36, with a high degree of stability in the rankings.”
GFCI 36 rates 121 financial centres across the world “combining assessments from financial professionals with quantitative data which form instrumental factors.”
GFCI 36 uses 37,830 financial centre assessments collected from 6,188 financial services professionals who responded to the GFCI online questionnaire. The GFCI is updated regularly, and ratings change as assessments and instrumental factors change.