RS RS poll RS poll: 26% of respondents think that Moscow will become a financial centre in 5 years

RS poll: 26% of respondents think that Moscow will become a financial centre in 5 years

Moscow City Business centre
Moscow City Business centre

Moscow did not crack the top 10 amongst international cities in the global financial centres index (the ranking is conducted yearly by the consulting company Z/Yen Group). It is worth noting that Russia slipped to 65th from 61st (from the previous ranking). Based on that one can freely say that the efforts of federal and Moscow government officials in the context of implementing the ambitious plan “Moscow—leading international financial centre” have not been particularly effective.

77 of the world’s largest financial centres took part in the research done by Z/Yen Group. The cities were evaluated based on such criteria as market access and infrastructure. It will be impossible to achieve the status as a large and full-fledged international financial centre without development the Russian securities market, improving the investment climate, decreasing the level of corruption and cutting down on bureaucratic red tape.

However, at the same time, the Russian capital made the top-10 for centres primed to broaden their influence.

Judging by the results of the poll conducted on Moscow definitely has the potential to join the ranks of large international financial centres. According to more than a quarter of respondents (26%) this could even happen in the next 5 years.

32% of poll participants are a bit more reserved; they think that Moscow will turn into a financial centre in 10 years. 18% of respondents figure that Moscow’s road to financial greatness will take 20 years, while 24% answered that Moscow will never become an international financial centre. RS