12. Paris |0.8% | No doubt the city will benefit from Brexit. It already is ranked third in outward financial services foreign direct investing (FDI), behind London and New York.
11. Boston | 4.3% | Boston is home to some of the largest financial service companies in the world, including asset managers like State Street and Fidelity, and insurance companies like Liberty Mutual. (Photo: Michael Dwyer)
10. New York | 4.4% | Vying with London to be the largest financial center in the world, New York also has the two largest stock markets, NYSE and Nasdaq.
9. London | 8.0% | The largest international finance center also is home to 100 domestic and foreign banks, more than any other city.
8. Hong Kong | 9.5% | Typically ranked as the third largest financial center in the world, it also has served as the gateway to China.
7. Sydney | 10.6% | The Aussies have a golden touch and currently are ranked highest globally for bank return on capital at close to 25%.
6. Luxembourg | 11.4% | Despite its small size, Luxembourg is a hotbed for banks and asset managers. In fact it ranks first in share of all employees working in financial services, with 12%.
5. San Francisco | 15.3% | Long known as a tech center with Silicon Valley down the road, San Francisco also is the U.S. leader in venture capital deals.
4. Singapore | 20.8% | Often competing with Hong Kong as third largest global financial center, Singapore comes first in attracting the highest amount of inward financial services FDI per capita.
3. Toronto | 25.2% | Canada’s financial center has the second highest number of stock market listings in the world, after Tokyo, and financial services account for 8.3% of employment in the metro area.
2. Shanghai | 27.8% | China’s commercial and financial hub has grown dramatically and is first in attracting, overall, the highest amount of inward financial services FDI.
1. Beijing | 56.4% | Not only does Beijing have the highest growth rate in financial services employment, it also has the most financial employees.
Which financial service centers are hotbeds for financial employment? The Conference Board of Canada’s 2018 Report Card focused on Toronto and its growth, but also looked at many aspects of other financial centers’ strengths, which we spotlight here as well.
Here are the top global cities ranked by highest employment growth in the financial services sector over the past five years.
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