1. Innovative 2. Reach of 3. Regulatory 4. Access to 5. Resilient business Our global offer to business: ecosystem 昀椀nancial activity environment talent and skills infrastructure London and the UK’s competitive 27 strengths supporting economic growth Methodology This City of London Corporation ‘Our global offer to business’ benchmarking research assesses the competitiveness of major 昀椀nancial centres. The centres have been chosen based business complexity, visa processing score of 0. All other data points are on their rankings in other major and gender gap. This results in the scored relative to the maximum and indices, such as the WEF Global analysis using 101 metrics in total. minimum values. Competitiveness Report and Z/Yen’s Data is collected at a national and The mean of all metrics scores in Global Financial Centres Index, as each of the 昀椀ve competitiveness city level, depending on availability. well as their overall international Where metrics are at city level – such dimensions constitutes a GFC’s score 昀椀nancial activity. as ‘cost of living’ – data has been in this dimension. Where data is Where the report refers to ‘global collected for each market’s main unavailable for a centre, the mean 昀椀nancial centres’ or ‘GFCs’, it refers 昀椀nancial centre. has been adjusted accordingly. to the following centres: London Where possible, the data collected A centre’s overall score is produced (UK), New York City (US), Singapore, covers the 昀椀ve-year period between by calculating the mean of the Hong Kong, Tokyo (Japan), Frankfurt 2018 and 2022. Where 2023 data is centre’s 昀椀ve dimensional scores, (Germany) and Paris (France). available the 昀椀ve-year period used is with each dimension having an equal The benchmarking model is based on 2019-2023. The data is normalised to weighting of 20%. analysis of 98 unique metrics across make relative comparisons between The relative year-on-year 昀椀ve key competitiveness dimensions. di昀昀erent types of data (values, competitiveness score change has Three of these metrics are used to ratings, index scores, percentages) been calculated using revised 昀椀gures support the assessment in more than possible. The most competitive data and updated metrics, therefore it one competitiveness dimension. For point between 2018 and 2022 across is not directly comparable with the example, ‘digital skills’ are relevant all centres – for example, the largest competitiveness scores published in in both ‘innovative ecosystem’ and amount of assets under management the City of London Corporation’s 2023 ‘access to talent and skills’. We have – is assigned a score of 100. The least ‘Our global o昀昀er to business’ report. added several new metrics including; competitive data point is assigned a To discuss this report, contact: Alastair Wainwright Economic.Research@cityo昀氀ondon.gov.uk