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Singapore Overtakes Hong Kong in World Financial Centers Ranking

Singapore is expecting to see more than 4 million visitors in 2022

Singapore is expecting to see more than 4 million visitors in 2022

Photographer: Ore Huiying/Bloomberg
Updated on

Singapore has overtaken Hong Kong to become Asia’s top financial center — and the third in the world — according to a new report that puts New York and London in the first and second spots.

Hong Kong slipped to fourth place, battered by strict Covid restrictions and an exodus of talent, while San Francisco moved up two spots to round out the Global Financial Centres Index’s top five.