Qatar ranked top financial centre in Middle East
The latest Global Financial Centres Index (GFCI 14), which measure the state of competitiveness between some 80 financial centres around the world, has ranked Qatar as the top financial centre in the Middle East.
Qatar’s ranking rose by six places, securing it the 24th place in the global rankings, and the highest in the Middle East beating out Dubai which was ranked 25th. Qatar’s rating score also increased by 11 points, mainly driven by the economy’s strong growth prospects, the improvement to infrastructure, international connectivity and low employee taxation. The stability of the top 40 centres in the ranking shows Qatar on the border of unpredictable and dynamic in its stability (see below)
Shashank Srivastava, CEO and board member of the QFC Authority, said, “I am delighted that Qatar has been recognised as the leading financial centre in the Middle East. The latest index demonstrates how Qatar continues to strengthen its standing as a prominent financial centre. These excellent results, together with recent confirmation of Qatar’s global ranking of 13th in the latest World Economic Forum Global Competitiveness Report 2013-14, the highest ranking of any state in the GCC, reinforce my belief that the Qatar Financial Centre offers financial services firms a uniquely attractive platform from which to grow their business both in Qatar and the broader GCC region.”
You can read the entire report here.