In the latest ranking of the top global financial centres released by research group Zen onWednesday, April 6, London continues to top the list with New York in the second position. But in a significant change of position, Hong Kong slipped to the 4^th slot, while Singapore climbed one place to become the 3^rd leading global financial centre in the world.

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The ranking is based on 24,495 assessments by 2,520 financial professionals last year. In the Asia Pacific region, 7 of the top 10 centers fell in their ratings, though the ratings of Singapore, Beijing and Tokyo rose to some extent. Of the top 10 centers in Asia, Seoul and Sydney experienced the biggest falls.

According to the study, Western European centers continue to be "mired in uncertainty." Of the 29 centers in this region, 12 rose in the ratings and 17 fell. The ranking is influenced by comments from a number of respondents, who all highlighted the uncertainty surrounding the possible exit of Britain from the European Union..

The ranking echoes performance in strategic areas that includes business environment, development and infrastructure for the financial sector at the 86 financial hubs around the globe covered in the survey. Evidence of a centre's performance in these spheres is drawn from a range of measures like external indexes.

In a separate global ranking of 50 Future-Ready Economies that have a foundation for prosperity and growth published by Dell, Singapore also ranked 3 after San Jose and San Francisco and continue to top in Asian region. The study is based on three dimensions; human capital, infrastructure and commerce,

TagsHong Kong, Singapore, Beijing, Z/Yen, Asia Pacific, Financial Hub