Dubai creates benchmark for Next Generation Financial Cities: Report

Dubai International Financial Centre (DIFC) has released the sixth edition of its flagship “Future of Finance” report series, titled “Next-Generation Financial Cities: New models for attracting global capital”, which explores the rising competitiveness of emerging financial cities amidst growing pressures faced by traditional financial hubs.

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Dubai International Financial Centre launched the report in collaboration with its research partner, Asia House, during a global webinar that drew over 600 senior executives from around the world. This edition highlights how emerging cities are advancing ahead of established financial centres such as New York, London and Hong Kong by leveraging innovative models to attract capital, talent, and global enterprises.

While traditional hubs still retain scale and trust, the report outlines several challenges affecting them — including rising costs, ageing infrastructure and populations, political uncertainty, and regulatory stagnation — all of which create new opportunities for emerging centres.

The report confirms the rise of the next generation of financial cities, including Dubai, Miami, Milan, São Paulo, and Shenzhen, noting the shifting dynamics of the global financial sector.

These cities were selected based on their advancing positions across several global indices such as the Global Financial Centres Index (GFCI), the Global Power City Index, the IMD Smart City Index, and Julius Baer's Global Wealth and Lifestyle Report, which together offer a comprehensive picture of their development.