Luxembourg ranks as one of the top 3 financial centres in the EU and 21st globally, according to the latest edition of the Global Financial Centres Index 23, published today. Furthermore, Luxembourg remains among the top financial centres likely to become more significant in the future.
Luxembourg’s continued top rating in this index confirms the successful past year, where top-ranked international institutions chose to set up all or part of their activities and benefit from the specialisation that exists within the Luxembourg financial ecosystem.
Major international financial institutions are serving the EU Single Market out of Luxembourg. Luxembourg is moreover the largest investment fund centre in Europe, second to the United States globally, and hosts more than 139 banks from over 28 countries. The financial centre is also committed to leading the drive towards digital financial services and playing a pioneering role in sustainable finance. In fact, Luxembourg was recently ranked as the second most important green financial centre, according to the first edition of the Global Green Finance Index. Finally, the insurance sector in Luxembourg has experienced significant growth, with over 10 new global insurers setting up in the Grand Duchy.
The GFCI is published by Z/Yen in London and ranks financial centres by several factors of competitiveness, such as business environment, human capital, taxation, reputation, infrastructures and financial sector development.