Luxembourg ranked 21st out of 119 in the Global Financial Centres Index in September 2022. That is up from 27th place in the GFCI released in March 2022. It held the 23rd spot in and was number 17 in .

In the current index, the grand duchy garnered the 6th highest score in Western Europe, ranking behind London, Paris, Frankfurt, Amsterdam and Geneva, and ahead of cities including Zurich, Berlin, Edinburgh, Stockholm and Copenhagen.

Luxembourg placed 2nd in the insurance sub-index, behind New York; 4th in the finance sub-index, behind New York, Shenzhen and London; 6th in the fintech sub-index; and 12th in the investment management sub-index.

The Global Financial Centres Index is produced by Z/Yen Partners, a “commercial thinktank” backed by the City of London, and the China Development Institute, an official thinktank in Shenzhen.

The index is based on number crunching of 151 “quantitative measures”, ranging from IMF data to the Economist’s , combined with the results of 12,983 surveys taken by “a range of individuals drawn from the financial services sector”.