Guernsey has risen 12 places in the latest Global Financial Centres Index.
Published by a City of London think-tank, Z/Yen, the Index provides evaluations of competitiveness and rankings for the world’s major financial centres.
Guernsey is one of just two jurisdictions in Western Europe to rise 10 places or more, reflecting the financial centre’s reputation for stability, security and depth of expertise.
Head of Strategy and Sustainable Finance, Stephanie Glover, said the results of this Index are encouraging: “It is gratifying to see Guernsey perform so well in this evaluation. Despite the many unprecedented global challenges of recent years, Guernsey has remained a secure and stable jurisdiction for financial services, boasting impressive breadth and depth of expertise across our various financial services sectors.”
The report reviews five areas of competitiveness – business environment, human capital, infrastructure, financial sector development and reputation. Generally, Western European centres performed well, with the ratings showing a high degree of stability and the average being just 0.18% lower than the last Index. However, Guernsey showed an above average uplift, with an increase of 17 points.
Overall, the Index suggests that, while there is considerable variation across centres, confidence in financial centres and the world economy remains high, despite the instability caused by the continuing war in Ukraine and other macro-economic factors.
The full report can be found here.