Märkte: Frankfurt stürzt im Ranking der Finanzplätze ab – das sind die Gründe

Frankfurt has slipped down to 29th place among the world's major financial centers, falling 14 places since last year, according to the Global Financial Center Index. It now ranks ninth in Western Europe, behind London, Zurich, Geneva, Luxembourg, Lugano, Paris, Copenhagen and Amsterdam. The German financial metropolis stands fifth in the European Union.

The decline is particularly due to the rise of Asian cities. Professor Hans-Peter Burghof from the University of Hohenheim explains that losing relevance as a financial center affects Germany's economic infrastructure. "A financial center is part of the economic infrastructure," he says. "If it loses relevance, accessing large amounts of capital for German companies becomes more difficult, especially for smaller companies that cannot easily divert to international markets."

Heiner Herkenhoff, CEO of the German Banking Association, adds that an internationally competitive financial center is crucial for Germany's economy as it supports investments and innovation, contributing to growth and transformation. The Handelsblatt interviewed numerous experts from business, academia, and politics to understand why Frankfurt has fallen in the rankings and how it can regain its position in Europe.

The seven measures identified include attracting talent, facilitating the arrival of international professionals, improving tax conditions, streamlining labor laws, creating a reliable infrastructure, and enhancing the overall business environment.