Luxembourg's financial center confirms its leading place globally

Thanks to an increasingly growing expertise in various sectors of financial activity, Luxembourg's financial centre sits 3rd in the eurozone and 12th globally after jumping six places in the ranking, putting it ahead of cities such as Washington, Boston, Dubai, Seoul and Paris. New York continues to top the ranking, closely followed by London and Shanghai. 

The capital of Grand Duchy fared particularly well in professional services, insurance, investment management, government regulatory, human capital and trading, making the top 10 in all these categories. 

Since the UK voted to leave the European Union, a great deal of institutions, mostly asset managers and insurers, have chosen Luxembourg as their base in order to continue to access the EU market, according to Luxembourg for Finance, the financial centre's development agency. 

Established in 2007, the Global Financial Centres Index is jointly released twice a year by London-based Z/Yen and Shenzhen-based China Development Institute. More than 114 financial centres were evaluated as part of the 26th edition of the GFCI rankings, using more than 133 instrumental factors.