In the ranking of world financial centers, Prague placed behind Warsaw and Bratislava, as it fell ten ranks to 76th place. New York, London, and Shanghai remain in the lead, according to a study published by the Global Financial Centers Index (GFCI) based on research from the China Development Institute (CDI) in collaboration with the London-based consulting company Z / Yen Partners.
CDI and Z / Yen Partners surveyed 126 financial centers and eventually ranked 114 in the 29th edition of the index. The placement is determined by 143 criteria provided by third parties, including the World Bank, the Economist Intelligence Unit (EIU), the Organization for Economic Co-operation and Development (OECD), and the United Nations.
Of the Central European capitals, Warsaw did the best this year thanks to its 61st-place ranking, but it also lost four places compared to the last edition. Bratislava came in 66th place but advanced 21 places higher than last year. Budapest was the worst in 85th place, although it also jumped 16 places ahead.
Regarding European cities, in addition to London, Frankfurt am Main and Zurich also made it to the ten most competitive financial centers. They placed ninth and tenth.
Title image: This picture taken March 6, 2013 shows the Zizkov television tower peaking over the skyline of Prague, Czech Republic. Following its completion in 1992, the 216-meter (236-yard) tall television tower in the Czech capital has become a dominant landmark of the city skyline that offers a breathtaking view of Prague from its restaurant and observation desk. (AP Photo/Petr David Josek)