Singapore Takes Over as World’s No. 2 Financial Hub

Singapore continues its series of stunning achievements after becoming the world’s no 2 financial hub, a survey by Bloomberg found. The survey assessed the preferences of investors, business owners and executives to find their most comfortable places to do business (and expect good returns).

The former no. 2, London, failed to recuperate from one of the worst financial disasters in decades and now found itself slipping into third. While other European counterparts (e.g. Germany and Italy) have exited the recession and are now beginning the recovery process, UK is still sadly in recession, recording a record sixth consecutive quarterly contraction in recent time.

Fund managers are also leaving London in flock since the introduction of a new top income tax rate of 50% for higher earnings and regulations by the European Union to restrict the amount of money they can borrow.

Shanghai and Tokyo were fourth and fifth respectively, while Dubai is beginning to generate buzz and interest from those searching for wealth in the mid-east shore.

New York remains as the top financial center, and even hit hard by the mighty recession, managed to withstood the turbulence and is now well on its path to glory again. A number of New York-based banking and financial institutions are now planning to pay record bonuses to their staff.

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6. America’s Most Stressful City
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Author's bio: Zul is the founder and principal contributor for the SKOR Career blog. He is the author of two books, The Malaysian Job Seeker's Dilemma and Buat Duit Tanpa Kerja Makan Gaji (How to Make Money Without a Job), available in major book stores nationwide. You can reach him at zulkiflimusa[at]gmail.com.