Scotland business

Edinburgh slips down finance index

Shoppers in Princes Street
Image caption Edinburgh has slipped three places down the financial league table

Edinburgh has slipped further down a league table of world financial centres but Glasgow has made a slight recovery in the Global Financial Centres Index.

Edinburgh fell three places to number 31 in a table of 75 cities around the world.

Glasgow moved up six places to sit at number 46.

The top spot on the table was held by London followed by New York but Hong Kong improved its rating and is only a few points behind the leaders.

The report said that Hong Kong was considered to be on a par with the other two leading centres.

The top four cities on the table controlled more than 70% of equity trading.

Among the biggest fallers in the league tables were the so-called tax havens of the Isle of Man, Jersey and the Cayman Islands.

Asian centres continued to show strong growth with Shanghai entering the top 10 and Seoul gaining four places and moving into the top 25 for the first time.

The performance of both Glasgow and Edinburgh is better than the last survey when they both fell sharply down the index.

The assessments are based on people and skills, business environment, property factors with other infrastructure, market access and general competitiveness.

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