Luxembourg experienced a slight decline, moving down one spot to 17th in the Global Financial Centres Index, on Thursday 21 March 2024, despite a four-point gain since September 2023. This minor descent from contrasts with its steady climb in previous assessments--19th in March 2023, in September 2022 and 27th in March 2022.

The grand duchy excelled in the latest analysis, ranking third worldwide in human capital competitiveness, just after New York and London, and outpacing cities like Singapore, Los Angeles and Hong Kong. It also ranked fifth in infrastructure competitiveness and eighth in business environment quality.

In sector-specific performances, Luxembourg featured prominently among the top 15 financial centers globally, with notable positions in banking (5th), fintech (12th), finance (13th) and professional services (15th).

This ranking was derived from an extensive survey covering 133 financial centers, of which 121 were featured in the main index, based on 48,365 evaluations from 8,494 respondents worldwide.

The Global Financial Centres Index is produced by Z/Yen Partners in collaboration with the City of London and the China Development Institute in Shenzhen.