People walk outside the New York Stock Exchange (NYSE) in New York City, US, April 8, 2025. (REUTERS/Brendan McDermid/ File Photo)

1. New York 

New York is the world’s largest financial center, home to Wall Street, the NYSE, and Nasdaq. The city hosts leading investment banks such as Goldman Sachs and Morgan Stanley, along with massive asset-management firms overseeing trillions of dollars. Its ecosystem also drives innovation in fintech, AI-assisted trading, and financial analytics. Its finance and insurance sector contributes about 8% of the US’s GDP, making it one of the country’s most powerful economic engines. The sector directly employs approximately 470,000 people and supports over 1 million jobs through law, consulting, and IT services. New York’s influence comes from its scale: a global hub for capital markets, investment banking, asset management, and fintech.

2. London 

London is the world’s largest foreign-exchange trading center, handling more than 40% of global FX transactions. The city’s geographic position makes it possible to connect Asian markets to North America in a single business day. London also leads in global insurance, thanks largely to the historic Lloyd’s market, and has strong capabilities in green finance and asset management. The financial sector contributes over 12% of the UK’s GDP, more than any other major industry, and remains the country’s largest source of services exports. London itself hosts 400,000-500,000 finance workers and supports 2.5 million jobs nationwide when counting legal, accounting, and fintech roles.

3. Hong Kong 

Hong Kong (China) is Asia’s most open capital market and a major gateway to mainland China. Wealth-management firms and multinational banks maintain a heavy presence here. 2022 data showed that financial services contributed around 23% of Hong Kong’s GDP, the highest dependence on finance among global centers. The industry employed 270,000 people (7% of all jobs) and drove thousands more in professional services. Hong Kong specializes in stock listings, wealth management, and offshore RMB business. 

The logo of the Monetary Authority of Singapore (MAS) is pictured at its building in Singapore in this February 21, 2013 file photo. (REUTERS/Edgar Su/File Photo)

4. Singapore 

Singapore is Southeast Asia’s financial powerhouse and a global hub for wealth management. It is known for its transparency, political stability, and reliable regulatory governance, making it one of Asia’s safest environments for capital. The city leads in fintech innovation, digital banking, regulatory technology, and cybersecurity. Its strengths also include trade finance, maritime finance, and global risk-management services. Finance accounts for about 14% of Singapore’s GDP, making it one of the country’s most critical economic pillars. The sector employs 270,000 workers (7% of the workforce), with high concentrations in banking, insurance, compliance, and fintech.

5. San Francisco 

San Francisco’s financial power comes from its close ties to Silicon Valley, the world’s most influential technology ecosystem. It hosts the highest concentration of venture-capital firms and investors funding cutting-edge startups. The region drives advances in blockchain, cryptocurrency, digital payments, and AI-powered financial services. Many of today’s largest fintech companies - from neobanks to global payment platforms - were born here. Venture capital and fintech drive a massive innovation economy that contributes hundreds of billions of dollars to the US’s GDP each year. While traditional finance jobs total more than 200,000, the indirect employment effect is far larger: venture-backed companies support millions of jobs nationwide. This center’s influence comes from financing innovation - from AI to biotechnology- rather than banking scale.

6. Chicago 

Chicago is the global capital of derivatives trading, home to CME Group and Cboe. The city specializes in futures, options, and sophisticated risk-hedging tools used by the global energy, agriculture, and financial industries. Chicago is also a pioneer in quantitative finance and high-frequency trading, supported by deep technical expertise and strong financial infrastructure. Its economy is closely tied to commodity cycles, but it remains the global benchmark for derivatives markets. Its financial services sector contributes around 8% of Illinois state’s GDP and anchors the Midwest’s economy. Finance and insurance employ some 330,000 people, with thousands more in risk management, clearing, and legal services. Chicago’s strength lies in commodities markets, futures trading, and financial engineering.

7. Los Angeles

Los Angeles is a major US center for asset management, private equity, and entertainment finance. The sector contributes over 60 billion USD annually to the regional economy. LA’s broader job impact is amplified through Hollywood, which relies heavily on financial services for film financing, insurance, and investment structures. LA’s niche strength: the intersection of finance, media, and real estate.

A man walks out of the Shanghai Stock Exchange building at the Pudong financial district in Shanghai November 17, 2014. (REUTERS/Carlos Barria)

8. Shanghai 

Shanghai is mainland China’s financial capital and home to major stock exchanges, the STAR market, and state-owned banking giants. The city is emerging as a leader in green bonds and sustainable-infrastructure financing. Shanghai focuses on banking, securities, futures, and fintech.

9. Shenzhen 

Shenzhen is China’s innovation-finance hub, powered by tech giants like Tencent and Ping An. Its financial services industry is fueled by rapid fintech expansion. Finance employs hundreds of thousands of workers, with strong growth in digital payments, venture capital, insurtech, and blockchain. Shenzhen blends Silicon Valley-style innovation with full-scale banking and capital markets.

10. Seoul 

Seoul is South Korea’s financial and innovation center, home to major banks, insurers, and the Korea Exchange. Seoul’s finance and insurance sectors generate strong demand for analysts, risk managers, fintech engineers, and asset managers. The city is especially strong in fixed-income products, payments technology, and digital banking.