Panama remains among the main financial hubs in the world of the thirty-second edition of the Global Financial Centres Index (GFCI) that was published on September 22, 2022, one of the reference sources of rankings in this sector, which places New York and London in the top positions.

In version 23 of this year’s GFCI, Panama rose four points and ranks as the 111th financial a total of 119 financial centers in the world evaluated.

Leading the table in the region are Cayman Islands (67), Santiago (69) and Bermuda (72), which surpassed Mexico City (82). These are followed by: Sao Paulo (88), Rio de Janeiro (90), Bogotá (99) and Bahamas (110), which fell more than ten places in the ranking.

According to the report, most centers in Latin America and the Caribbean fell in the ranking after a more positive performance in the 31st global financial center index.

On the contrary, Panama, one of the countries that implemented the strictest measures to deal with the spread of COVID-19, has practically achieved normality and openness, recover from the pandemic.

Panama this year, expects to receive 1.8 million tourists and hold about 17 international events in the different venues for convention meetings that the country has.

New York leads the index, with Paris was again in the top ten in the index, replacing Tokyo, which fell to 16th place, perhaps reflecting a comparatively slow consumer recovery after the COVID-19 pandemic.

to develop the index (GFCI), 128 financial centers were investigated, of which 119 are in the main index. The GFCI is compiled using 151 instrumental factors. These quantitative measures are provided by third parties, including the World Bank, the Intelligence Unit of The Economist, the OECD and the United Nations.

The instrumental factors are combined with the evaluations of the financial center provided by the respondents in the GFCI online questionnaire, through 66,121 evaluations of 11,038 respondents.