Financial centers or hubs are cities with leading financial institutions, strategic locations, and well-reputed stock exchange markets, banks, trading, mortgage companies, and insurance companies.
Financial hubs are also built with top-of-the-line infrastructure, high-end commercial systems, and communications. One will notice a transparent, legal, and regulatory reign supported by a stable political system. These cities offer a competitive living standard and excellent growth opportunities for professionals.
Europe has some top-ranking financial districts in the world, and this has made the region strong and well-respected. Let’s take a closer look at the best ones.
Even in ancient times, London has displayed prominence in business and trade. In these modern times, this city has been one of the most visited places globally and a top choice for doing business. It is a popular hub for foreign exchange and trading. It is also dense with insurance services, bond trading, and banking activities.
London remains to be the top trading city for futures, bonds, insurances, and foreign exchange. The Bank of England is the second oldest central bank globally, and its central office is located in London. This bank handles the monetary system and controls the issuance of currency notes in the UK.
Likewise, the city is home to the London Stock Exchange, which is the biggest in Europe, and the London Bullion Market, which is also a popular financial paragon.
Next in line is Zurich. It is a globally-recognized financial center, and it is located in Switzerland. It has a tremendous presence of banks and financial institutions and has developed into a center for insurance and asset management companies. Zurich continues to attract a huge number of multinational companies because of its low tax regime. It is also one of the reasons why this hub is an ideal investment destination.
Zurich is also home to the SIX Swiss Exchange, which is also one of the most expansive stock markets in the world. It is Switzerland’s main stock exchange with more or less $1.8 Trillion market capitalization as of July 2020. This city offers great career opportunities in the finance sector due to its healthy business environment. More so, the city is one of the most beautiful, cleanest, and crime-free cities in the world.
This city in Germany is home to the Deutsche Bundesbank and the European Central Bank. Many national and international banks and top companies have their central offices in this vibrant financial hub. It also has one of the busiest airports in the world. Frankfurt became Europe’s foremost payment hub for the renminbi in 2014. Its stock exchange market, the Frankfurt Stock Exchange, is also one of the largest alongside SIX Swiss and London.
Europe is home to various financial hubs, and the region continues to play well in terms of finance and economics despite Brexit. Many view Frankfurt to take the place of London as the next financial hub of Europe, but the former stays robust and unshaken.
Other cities with strong financial environments in Europe include Dublin, Geneva, and Luxembourg.