Kuwait has been ranked 80th globally and seventh in the Arab world in the 37th edition of the Global Financial Centres Index (GFCI), conducted by Z/Yen Group and the China Development Institute (CDI). The country dropped 11 spots, earning a score of 672 points, as reported by Al Rai newspaper.

The GFCI evaluates 119 financial centers worldwide by analyzing data from reputable organizations such as the World Bank, the Organization for Economic Co-operation and Development (OECD), and the United Nations. Rankings are based on 31,314 financial center assessments collected from 4,946 financial professionals through an online survey. The index is updated biannually, every March and September, and is highly regarded in the global financial sector.

Among Arab nations, Kuwait ranked seventh, with the United Arab Emirates (UAE) leading the region:

• Dubai – 12th globally (1st in the Arab world)
• Abu Dhabi – 38th globally
• Casablanca – 55th globally
• Riyadh – 71st globally
• Doha – 73rd globally
• Bahrain – 75th globally
• Kuwait – 80th globally

On the global stage, New York retained its position as the top financial center, followed by London in second place, and Hong Kong in third. Other financial powerhouses in the top 10 include:

1. New York (1st)
2. London (2nd)
3. Hong Kong (3rd)
4. Singapore (4th)
5. San Francisco (5th)
6. Chicago (6th)
7. Los Angeles (7th)
8. Shanghai (8th)
9. Shenzhen (9th)
10. Seoul (10th)

The GFCI serves as a benchmark for assessing the competitiveness of financial centers worldwide. It provides insights into factors such as business environment, financial sector development, infrastructure, human capital, and reputation. Financial hubs with strong rankings benefit from increased investor confidence and greater economic opportunities.