24 cities in emerging markets that are becoming the next generation of financial powerhouses

China flag waving Shanghai boy ridingChinaFotoPress/via Getty ImagesA boy waves a Chinese flag riding on his father’s neck at the Bund during the second day of the National Day holiday on October 2, 2014 in Shanghai, China

The Global Financial Centres Index was last published in March, when we profiled some of the centres that have expanded at the fastest pace since 2010.

This time, we looked at the overall rankings, showing that London unseated New York for the number one spot this year.

Now we’re looking at which cities rank highest in emerging markets — defined as any countries included on MSCI’s emerging markets index.

The rankings consider five metrics:

  • Business environment
  • Financial sector development
  • Infrastructure
  • Human capital
  • Reputational and general factors.

All the points are out of 1,000. Take a look at which cities make the cut.

23. St. Petersburg, Russia: 552 points. This city just sneaks into the rankings, though it's fallen by three places since earlier this year.

Pixabay

20. Jakarta, Indonesia: 610 points. Though the city is enormous and expanding, it's slipped by 16 places this year, a major decline.

Shutterstock

13. Dalian, China: 660 points. This north-eastern Chinese finance hub has soared 10 places in a single year and is the country's fourth-highest ranked.

Paul Louis, Wikipedia

8. Abu Dhabi, United Arab Emirates: 679 points. The UAE capital is trying to make a name for itself in wealth management, among other things.

Lara Sukhtian

7. Taipei, Taiwan, 686 points. This Taiwanese metropolis has slipped one place from the last rankings.

Copyright Daniel Shih

5. Shenzen, 689 points. This rapidly-expanding Chinese city nearly became the country's top-ranked this year, losing out just slightly to one other.

SSDPenguin, Wikipedia

3. Shanghai, China: 698. China's premier financial city fell five places this year, with considerable competition from other parts of the country.

ChinaFotoPress/via Getty Images

1. Seoul, South Korea: 724 points. With a small improvement from last year, South Korea's capital easily keeps its place in the top of the rankings in 2015.

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