In the 40th edition of the Global Financial Centres Index, Kazakhstan’s capital ranked 57th among 117 financial centres worldwide. Astana’s rating increased by 18 points, from 684 to 702.
Astana improved its position in the Global Financial Centres Index 40 (GFCI 40), climbing eight places from 65th to 57th. The city retained its leading position in Eastern Europe and Central Asia, which it has held for more than three years.
In the regional ranking, Astana was followed by Cyprus, which ranked 72nd globally, and Warsaw, which placed 78th. The gap between Astana and its closest regional competitor was 15 places.
Astana’s rise came against a 1.09% decline in the average rating of financial centres in Eastern Europe and Central Asia. At the same time, the authors of the index noted that the region’s leading financial centres continued to strengthen their positions.
Astana was also named among the ten financial centres expected by survey participants to play a more significant role in the global financial system over the next two to three years. Kazakhstan’s capital ranked ninth on the list, receiving 45 mentions from respondents.
In the separate FinTech ranking, Astana rose four places from 55th to 51st.
GFCI 40 assessed 139 financial centres, 117 of which were included in the main index. The ranking was compiled using 144 quantitative measures provided by international organisations, including the World Bank, the Organisation for Economic Co-operation and Development and the United Nations, as well as 39,531 assessments from 6,147 financial sector professionals.
Survey respondents also identified the priority areas that financial centres should focus on over the next five years. These include developing digital infrastructure, including cloud technologies, data transmission and cyber resilience; attracting FinTech companies and digital asset businesses; strengthening systems to combat money laundering and financial crime; and further deepening capital markets.
New York retained first place in the global ranking, followed by London, Hong Kong and Singapore. Shanghai, Tokyo, Seoul, Shenzhen, Dubai and Zurich also ranked among the top ten.
The GFCI is published twice a year and is one of the leading international benchmarks for the competitiveness of financial centres. The index is produced by the UK-based think tank Z/Yen Group in partnership with the China Development Institute (CDI). It assesses financial centres across five broad areas: business environment, financial sector development, infrastructure, human capital and reputation.
Astana first entered the GFCI ranking in March 2018 and became the leading financial centre in Eastern Europe and Central Asia in March 2023. The Astana International Financial Centre has made a significant contribution to strengthening the city’s position by developing its legal and regulatory environment, financial infrastructure, capital and digital asset markets, and expanding opportunities for international and regional investors.
