International comparisons of global city financing: a report to the london finance commission.10/18/2023 In 2019, the UK’s net financial services exports were higher than the value of Singapore, Hong Kong, and Germany’s combined. London and the UK are Europe’s leading destination for investment in financial services.Of the major economies, the UK’s regulatory and legal framework is leading as it sets international standards and is at the forefront of innovation.London is the world’s capital for tech and innovation in financial services and is home to most of the Fintech 100 firms.Key areas where London and the UK excel at a global stage include: The rankings were rounded out with Frankfurt (41), Hong Kong (40) and Tokyo (32). London received an overall competitiveness score of 62, followed by New York (54) and Singapore (53). London also continues consistently to perform strongly across all key dimensions, including innovation, reach of financial activity, resilience and business infrastructure, talent and skills, and regulation. It clearly demonstrates that, while other major centres may lead on some measures, London and the UK have the strongest overall competitive offering. The benchmarking research, entitled “Our global offer to business: London and the UK’s competitive strengths in a changing world”, takes 91 different metrics into account. New figures published today by the City of London Corporation, show that, London continues to hold the top spot for financial and professional services, when compared to other global destinations, including New York, Singapore, Hong Kong and Frankfurt.
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