Economy and Business
Due to its high concentration of important financial institutions, Frankfurt is one of the world's most important financial centres and the leading one in Germany, Munich coming some way behind. Frankfurt was ranked 7th at the International Financial Centers Development Index (2012), 8th at the Worldwide Centres of Commerce Index (2008), 10th at the Global Power City Index (2011), 11th at the Global City Competitiveness Index (2012), 12th at the Innovation Cities Index (2011), 13th at the Global Financial Centres Index (March 2012), 14th at the World City Survey (2011) and 23th at the Global Cities Index (2012).
According to an annual study by Cushman & Wakefield, the European Cities Monitor (2010), Frankfurt has been one of the top three cities for international companies in Europe, along with London and Paris, since the survey started in 1990. It is also the only German city considered to be an alpha world city (category 3) as listed by the Loughborough University group's 2010 inventory, which was a promotion from the group's 2008 inventory when it was ranked as an alpha minus world city (category 4).
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