Sydney is now ranked 15 in a detailed index of Global Financial Sectors.
Compiled by think tank Z/Yen every 6 months, the Global Financial Centres index tracks the competitiveness of 86 cities using data derived from over a hundred studies and indexes, and almost 30,000 questionnaires by financial professionals.
Z/Yen don’t provide much data to go along with the report, so it isn’t possible to clearly parse recommendations from the report. However, Sydney has gained and lost a few spots on the sub-indicies that makeup the final ranking:
The Business Environment, where Sydney has dropped four spots, is informed by rankings like the Ease of Doing Business index (Australia ranks 10) and the Transparency International Corruption Index (ranked 11).
Financial Sector Development (Sydney down 1) is created using data like the size of city GDP (Sydney is $USD 223 billion – ranked 206) and the value of the trades of numerous financial products.
And finally reputation, where Sydney has stormed up the ranks. This metric is built through questionnaires filled by finance professionals. The higher the ranking the more favourable financial professionals view the city.
In the end, while Sydney has lost out on all the qualitative metrics, opinions about Sydney have never been higher.
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