Singapore to dethrone Switzerland as world's top financial hub

Are investors shifting to Asia?

According to PwC, while Switzerland remains the most attractive international financial centre (IFC) for clients, Singapore is expected to take over in two years as world's most succesful financial hub. Additionally, Switzerland also faces tougher competition from London.

"Switzerland is losing ground on players in Singapore, Dubai, Miami, and Hong Kong. The power is shifting away from Western Europe and the US. New players are looming on the horizon," says senior executive, EMEA, private banking group.

The future for Switzerland, and all international financial centres, will increasingly be about developing defined areas of expertise to differentiate as transparency and increased regualtory standards create a more level playing field between the larger IFCs than has been the case in the past.

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