Dublin’s ranking as financial centre plummets to 70th place out of 83

Dublin’s ranking as a financial centre has plummeted, falling to 70th place out of 83, well below the 10th position it had five years ago and behind centres like Luxembourg, Guernsey, Cayman Islands and Gibraltar.

The 16th biannual Global Financial Centres Index, prepared by research group Z/Yen, placed Dublin ahead of only Madrid, Helsinki, Lisbon and Reykjavik among 23 western European centres polled.

Globally, New York, London, Hong Kong and Singapore remained the top four financial centres, with New York just one point ahead of London, which suffered due to fears of Britain’s exit from the European Union. Zurich in Switzerland was the only other European city to make the top 10, with San Francisco, Boston and Washington DC ensuring US domination.