Much attention is given to how appealing international financial centres (IFCs) are to foreign investors, and how much direct investment they attract from abroad. But to get a fuller picture on their relevance in the world’s financial markets and economy, it is also important to look at their ability to originate – rather than capture – international investments.
As to be expected, given their size and international relevance, London and New York top the IFCs list by outflows of foreign direct investment (FDI) into other hubs’ financial sectors between April 2011 and March this year, with $4.85bn and $2.94bn generated, respectively.
But other jurisdictions have been scoring well and have improved their standing in the list. Toronto is the prime example, having moved to third place from 19th in the space of a year. The Canadian city generated more than $1.7bn between 48 projects, compared with just $439m and 20 projects in the 12 months from April 2010 to March 2011.
To find out more about the ranking, including the top 15 ranking, read the full story: Toronto and Sydney leap FDI outflow ranking
