Kuwait ranked 83rd in 38th edition of GFCI with strong fintech growth

Kuwait has been ranked 83rd in the 38th edition of the Global Financial Centers Index (GFCI), recently released by the consulting firm Z/Yen Group in collaboration with the China Development Institute (CDI).

The index evaluates 135 financial centers worldwide, drawing on data and survey results from thousands of financial services professionals who participated in an extensive online survey.

In the Arab world, Kuwait takes the seventh spot, sixth in the Gulf and tenth across the Middle East and Africa, earning a score of 676 points.

Dubai topped the Arab world and the region, placing 11th globally, followed by Abu Dhabi in 28th place, Casablanca 56th, Doha 62nd, Riyadh 67th, and Bahrain 73rd.

The report also highlighted Kuwait’s performance in the Financial Technology (FinTech) sector, where the country climbed eight positions, securing 71st place globally with a score of 671 points. This improvement reflects the growing focus on digital finance and innovation in Kuwait’s financial landscape.

The GFCI is compiled and updated biannually in March and September, combining 140 quantitative performance factors provided by third-party organizations such as the World Bank, OECD, and United Nations with survey input from 4,877 financial professionals. The 38th edition included 28,549 financial center ratings, offering a comprehensive assessment of global financial competitiveness.

Globally, New York retained its position as the world’s top financial center, followed by London, Hong Kong, Singapore, and San Francisco.

Other notable positions included Chicago in sixth, Los Angeles seventh, Shanghai eighth, Shenzhen ninth, and Seoul rounding out the top ten. The ranking underscores the competitive dynamics of financial hubs worldwide and Kuwait’s continued efforts to strengthen its financial sector amid evolving global trends.

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