The 20 most important cities in the global financial system - and there's a new number one
20.) OSAKA makes it in as Japan's second-highest ranked city, climbing by an impressive 11 places, the most of any city in the top 20.
![The 20 most important cities in the global financial system - and there's a new number one](/_next/image?url=https%3A%2F%2Fstaticbiassets.in%2Fthumb%2Fmsid-49079599%2Cwidth-700%2Cheight-525%2Cimgsize-614284%2F20-osaka-makes-it-in-as-japans-second-highest-ranked-city-climbing-by-an-impressive-11-places-the-most-of-any-city-in-the-top-20-.jpg&w=3840&q=75)
19.) LUXEMBOURG punches well above its weight in finance — the tiny city-state is Europe's fourth highest-ranked hub.
![19.) LUXEMBOURG punches well above its weight in finance — the tiny city-state is Europe](https://staticbiassets.in/thumb/msid-49079600,width-700,height-525,imgsize-689661/19-luxembourg-punches-well-above-its-weight-in-finance-the-tiny-city-state-is-europes-fourth-highest-ranked-hub-.jpg)
18.) VANCOUVER stays in the top-20, but loses its position as Canada's second-most important financial city.
![18.) VANCOUVER stays in the top-20, but loses its position as Canada](https://staticbiassets.in/thumb/msid-49079601,width-700,height-525,imgsize-204335/18-vancouver-stays-in-the-top-20-but-loses-its-position-as-canadas-second-most-important-financial-city-.jpg)
17.) MONTREAL climbed this year, making it Canada's second highest-ranking financial centre.
![17.) MONTREAL climbed this year, making it Canada](https://staticbiassets.in/thumb/msid-49079604,width-700,height-525,imgsize-2201790/17-montreal-climbed-this-year-making-it-canadas-second-highest-ranking-financial-centre-.jpg)
16.) DUBAI supplants Riyadh as the highest-ranked city in the middle east, climbing by seven places. It's ranked 12th in the world on infrastructure alone.
![16.) DUBAI supplants Riyadh as the highest-ranked city in the middle east, climbing by seven places. It](https://staticbiassets.in/thumb/msid-49079609,width-700,height-525,imgsize-2173468/16-dubai-supplants-riyadh-as-the-highest-ranked-city-in-the-middle-east-climbing-by-seven-places-its-ranked-12th-in-the-world-on-infrastructure-alone-.jpg)
15.) SYDNEY comes screaming into the top 20, climbing by six places, making it the highest-ranked city in the southern hemisphere.
![15.) SYDNEY comes screaming into the top 20, climbing by six places, making it the highest-ranked city in the southern hemisphere.](https://staticbiassets.in/thumb/msid-49079611,width-700,height-525,imgsize-1114985/15-sydney-comes-screaming-into-the-top-20-climbing-by-six-places-making-it-the-highest-ranked-city-in-the-southern-hemisphere-.jpg)
14.) FRANKFURT surged up the list this year, rising five places after the opening of the European Central Bank's massive HQ.
![14.) FRANKFURT surged up the list this year, rising five places after the opening of the European Central Bank](https://staticbiassets.in/thumb/msid-49079613,width-700,height-525,imgsize-262196/14-frankfurt-surged-up-the-list-this-year-rising-five-places-after-the-opening-of-the-european-central-banks-massive-hq-.jpg)
13.) GENEVA is the third most important European city for finance, and Switzerland's second-most important, but it slipped by a place this year.
![13.) GENEVA is the third most important European city for finance, and Switzerland](https://staticbiassets.in/thumb/msid-49079614,width-700,height-525,imgsize-790006/13-geneva-is-the-third-most-important-european-city-for-finance-and-switzerlands-second-most-important-but-it-slipped-by-a-place-this-year-.jpg)
12.) BOSTON took another tumble this year, slipping behind other American cities.
![12.) BOSTON took another tumble this year, slipping behind other American cities.](https://staticbiassets.in/thumb/msid-49079616,width-700,height-525,imgsize-722641/12-boston-took-another-tumble-this-year-slipping-behind-other-american-cities-.jpg)
11.) CHICAGO lost the place in the top ten that it gained in 2014.
![11.) CHICAGO lost the place in the top ten that it gained in 2014.](https://staticbiassets.in/thumb/msid-49079617,width-700,height-525,imgsize-996868/11-chicago-lost-the-place-in-the-top-ten-that-it-gained-in-2014-.jpg)
10.) WASHINGTON D.C. climbs two places from last year, taking the place in the top 10 that it lost in 2014.
![10.) WASHINGTON D.C. climbs two places from last year, taking the place in the top 10 that it lost in 2014.](https://staticbiassets.in/thumb/msid-49079618,width-700,height-525,imgsize-276337/10-washington-d-c-climbs-two-places-from-last-year-taking-the-place-in-the-top-10-that-it-lost-in-2014-.jpg)
9.) SAN FRANCISCO edges out Chicago as the USA's number two city for finance, but it has fallen by one place, after falling by three last year.
![9.) SAN FRANCISCO edges out Chicago as the USA](https://staticbiassets.in/thumb/msid-49079620,width-700,height-525,imgsize-465172/9-san-francisco-edges-out-chicago-as-the-usas-number-two-city-for-finance-but-it-has-fallen-by-one-place-after-falling-by-three-last-year-.jpg)
8.) TORONTO takes the second-highest ranking of any city in the Americas, holding its up three places from last year.
![8.) TORONTO takes the second-highest ranking of any city in the Americas, holding its up three places from last year.](https://staticbiassets.in/thumb/msid-49079624,width-700,height-525,imgsize-313354/8-toronto-takes-the-second-highest-ranking-of-any-city-in-the-americas-holding-its-up-three-places-from-last-year-.jpg)
7.) ZURICH makes the grade as the second highest-ranked European city on the list.
![7.) ZURICH makes the grade as the second highest-ranked European city on the list.](https://staticbiassets.in/thumb/msid-49079625,width-700,height-525,imgsize-447583/7-zurich-makes-the-grade-as-the-second-highest-ranked-european-city-on-the-list-.jpg)
6.) SEOUL moved up another spot as South Korea takes an increasingly important position in Asian finance. Two years ago, it came 8th.
![6.) SEOUL moved up another spot as South Korea takes an increasingly important position in Asian finance. Two years ago, it came 8th.](https://staticbiassets.in/thumb/msid-49079627,width-700,height-525,imgsize-299711/6-seoul-moved-up-another-spot-as-south-korea-takes-an-increasingly-important-position-in-asian-finance-two-years-ago-it-came-8th-.jpg)
5.) TOKYO still punches above its weight as a financial centre, coming out fifth overall.
![5.) TOKYO still punches above its weight as a financial centre, coming out fifth overall.](https://staticbiassets.in/thumb/msid-49079628,width-700,height-525,imgsize-395366/5-tokyo-still-punches-above-its-weight-as-a-financial-centre-coming-out-fifth-overall-.jpg)
4.) SINGAPORE comes in fourth overall, but took a slight dip in terms of its business environment score.
![4.) SINGAPORE comes in fourth overall, but took a slight dip in terms of its business environment score.](https://staticbiassets.in/thumb/msid-49079629,width-700,height-525,imgsize-364146/4-singapore-comes-in-fourth-overall-but-took-a-slight-dip-in-terms-of-its-business-environment-score-.jpg)
3.) HONG KONG takes the highest spot of any Asian city, as both a well-developed financial hub and a gateway to China.
![3.) HONG KONG takes the highest spot of any Asian city, as both a well-developed financial hub and a gateway to China.](https://staticbiassets.in/thumb/msid-49079630,width-700,height-525,imgsize-547219/3-hong-kong-takes-the-highest-spot-of-any-asian-city-as-both-a-well-developed-financial-hub-and-a-gateway-to-china-.jpg)
2.) NEW YORK slips from the top spot — there's barely anything to choose between New York and the winner, but another city edged ahead this year.
![2.) NEW YORK slips from the top spot — there](https://staticbiassets.in/thumb/msid-49079632,width-700,height-525,imgsize-385603/2-new-york-slips-from-the-top-spot-theres-barely-anything-to-choose-between-new-york-and-the-winner-but-another-city-edged-ahead-this-year-.jpg)
1.) LONDON slips back into first place, taking the top spot in every sub-index: Whether the British capital is measured for its business environment, financial sector development, infrastructure, human capital or reputation, it comes out on top.
![1.) LONDON slips back into first place, taking the top spot in every sub-index: Whether the British capital is measured for its business environment, financial sector development, infrastructure, human capital or reputation, it comes out on top.](https://staticbiassets.in/thumb/msid-49079633,width-700,height-525,imgsize-326592/1-london-slips-back-into-first-place-taking-the-top-spot-in-every-sub-index-whether-the-british-capital-is-measured-for-its-business-environment-financial-sector-development-infrastructure-human-capital-or-reputation-it-comes-out-on-top-.jpg)
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