Casablanca was ranked 53rd global financial center by the Global Financial Centers Index, which analyzes the evolution of financial centers around the world.
In Africa and the Middle East, Casablanca is fourth after Tel Aviv (49th), but ahead of the South African poles Cape Town (62nd) and Johannesburg (64th), which however recorded a clear advance, respectively by 32 and 34 points as well as a gain of 20 and 26 places.
The Chinese Development Institute (CDI) author of the report said that overall, the global average score fell by 12.9 points (2.05%). This is the third consecutive decline recorded in the indicator of global financial centers.
“The fact that overall ratings continue to decline from the levels we saw in 2019 reflects the lingering uncertainty surrounding international trade, the impact of the covid-19 pandemic, and geopolitical and local unrest,” explained the center.
This is one of the reasons why many popular Arab and African places also recorded a drop in their points. The only Arab representation in the top 20 places, Dubai has lost 16 points, despite having grabbed a place at the world level.