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Qatar / General

Doha rises 11 steps in Global Financial Centres Index

Published: 05 Oct 2025 - 08:18 am | Last Updated: 05 Oct 2025 - 08:34 am
Peninsula

Victor Bolorunduro | The Peninsula

Doha, Qatar: Doha has continued to consolidate its position as a rising global financial hub, jumping 11 places to emerge third in the region in the recently released Global Financial Centres Index (GFCI) 38.

The performance in GFCI 38 marks a pivotal inflection point, as the city vaulted 11 positions to 62nd place overall, with its rating surging 18 points to 697, ensuring that the Qatari hub outpaced many of its peers in raw momentum. This ascent reverses a stagnation observed in prior editions, where Doha hovered in the mid-70s amid broader MEA volatility.

For context, GFCI 37 (March 2025) pegged Doha at 73rd with 679, reflecting incremental gains but underscoring untapped potential.

In the FinTech sub-index—a bellwether for innovation-driven finance—Doha’s trajectory is even more pronounced. Climbing 16 notches to 66th with a 37-point boost to 676, it signals Qatar’s pivot toward digital ecosystems. This aligns with global trends where FinTech ratings decoupled from overall scores in 38% of centres, favoring agile locales over legacy giants.

The Global Financial Centres Index (GFCI), a biannual benchmark jointly produced by London’s Z/Yen Group and China’s Shenzhen-based China Development Institute (CDI), stands as the preeminent gauge of financial hub competitiveness worldwide.

Edition 38, released on September 25, 2025, evaluates 120 centres across five core pillars: Business Environment, Human Capital, Infrastructure, Financial Sector Development, and Reputation. Drawing from over 29,000 respondent assessments and 140 instrumental factors sourced from entities like the World Bank and OECD, the index illuminates not just current standings but future potential amid geopolitical flux, technological disruption, and economic reconfiguration.

Classified as an “International Established” profile, Doha boasts broad financial services depth and global connectivity, per GFCI’s typological matrix. Its 173 respondent assessments yielded an average of 679, with a standard deviation of 225—indicating polarized views that, while challenging, fuel reform imperatives.

In GFCI 38, New York retains the top spot with a rating of 766, closely trailed by London (765) and Hong Kong (764), underscoring the enduring dominance of Anglo-American-Asian triads. Yet, beneath this stability, regional shifts signal emerging narratives.

The Middle East & Africa (MEA) region, despite a modest average rating uplift of just 0.22%—the lowest globally—harbors stories of targeted ambition. Enter Doha, Qatar’s capital, which exemplifies this dynamism with a remarkable leap forward.

Within MEA, Doha trails UAE powerhouses Dubai (11th, 748) and Abu Dhabi (28th), as well as Mauritius and Casablanca.

Pillar-wise, while granular scores elude public breakdowns, instrumental proxies suggest buoyancy. Infrastructure scores, buoyed by Hamad International Airport’s expansions and Lusail City’s smart-urban blueprint, likely propelled gains. Human Capital benefits from expatriate influxes and education hubs like Qatar University and Education City, mitigating talent gaps flagged in GFCI 37. Business Environment enhancements stem from QFC’s regulatory streamlining, including 100% foreign ownership in non-energy sectors post-2020 reforms. 

Reputation, though, remains a wildcard; Doha’s standard deviation hints at perceptions tied to geopolitical frictions, including the 2017 blockade’s lingering echoes. Comparatively, Doha’s MEA outperformance mirrors broader Arab momentum: Seven Arab cities cracked the top 80 in earlier 2025 editions, with Doha now vying for mid-tier supremacy. Cross-regionally, Western European and multi-regional assessors rated MEA centres above global norms, affirming Doha’s appeal to European capital flows.