EDINBURGH has overtaken Glasgow in a ranking of the world’s financial centres which includes both cities in the top 50.
In the latest Global Financial Centres Index Edinburgh has risen nine places to 43 from 52.
Glasgow remains in 49th place.
London retains its top spot in the global rankings.
With Edinburgh and Glasgow ranked 13th and 14th respectively in the top 15 in Europe, the report provides a vote of confidence in the centres at a time of huge uncertainty about the implications of Brexit.
Cities around the world are jockeying for position amid big changes in the global financial services market.
Graeme Jones, chief executive of industry body Scottish Financial Enterprise said: “It’s positive to see both Edinburgh and Glasgow now in the top 50 of the Global Financial Centres Index and in the top 15 Western European Financial Centres list.”
He noted Edinburgh’s rise and Glasgow’s stable position reflected the strength of Scotland’s financial services industry on the world stage despite Brexit.
The findings will be particularly welcome in Edinburgh as it overcomes the legacy of the banking crisis of 2008. Edinburgh ranked 14th in the global top 15 for financial sector development.
Dublin fell one place to 31 in the global table. It ranked eighth in Europe.
The report was published by the consultancy Z/Yen and China Development Institute.
Cities were ranked using measures compiled by organisations such as the World Bank and online assessments completed by 2,340 respondents.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereComments are closed on this article