#1: New York City
#2: London
#6: Tokyo
#8: Beijing
#10: Frankfurt
#9: Zurich
#5: Shanghai
#3: Hong Kong
#4: Singapore
#7: Sydney
Top ten ranked according to industry benchmark that analyses 5 factors including business environment, infrastructure and reputation.
FINANCIAL CENTRES
OFFSHORE FINANCIAL CENTRES (OFCs)
Fact: 1/6th of all the world's private wealth is stashed away in tax havens
British Virgin Islands
Cayman Islands
Bermuda
Jersey
Luxembourg
Cyprus
Mauritius
Hong Kong
Foreign Assets (in $ US billions)
Luxembourg: $5,513
Cayman Islands: $4,173
Hong Kong: $2,065
British Virgin Islands: $1,777
Bermuda: $1,033
Jersey: $681
Cyprus: $350
Mauritius: $170
SINK OFCs
CONDUIT OFCs
SINK OFCs
Sink OFCs are tax havens that attract and retain foreign capital
OFFSHORE FINANCIAL CENTRES (OFCs)
CONDUIT OFCs
CONDUIT OFCs
SINK OFCs
Fact: At least 30% of all foreign direct investment flows through tax havens and about 50% of trade
#2: UK
#5: IRELAND
#1: NETHERLANDS
#3: SWITZERLAND
#4: SINGAPORE
Proportion of total flows channeled through conduit
Singapore
Ireland
Netherlands
UK
23%
14%
6%
2%
1%
Switzerland
Conduit OFCs are capital’s intermediate destinations, due to the low taxes, strong legal systems, and reputations for enabling transfers without taxation in these jurisdictions.
US: 31%
China: 16%
Cayman Islands: 10%
Ireland: 5%
Luxembourg: 7%
Japan: 6%
SHADOW BANKS
Shadow banks are financial institutions which lie outside of the formal banking regulatory system despite performing similar functions to banks, such as providing credit. As a result, they raise and lend money more easily, but with considerably more risk.
Fact: 75% of Shadow Banking assets reside in six countries.
GEOGRAPHY OF FINANCIAL POWER
Click on tabs to view different kinds of financial centres
FINANCIAL CENTRES
OFFSHORE FINANCIAL CENTRES
SHADOW BANKING HUBS
