The GFCI report ranked the Isle of Man 21st of the 50 top-rated financial centers.
The Isle of Man says the rankings are based on external benchmarking data and five areas of competitiveness including people, business environment, market access, infrastructure and general competitiveness.
Treasury Minister Allan Bell says: “We are delighted to have been awarded this ranking by The City of London. Not only is it a reflection of our close business ties with London, it is also an excellent endorsement of the Isle of Man’s reputation as the leading offshore financial centre. Our inclusion and ranking in the report are a clear indication of the success of the Isle of Man’s strategy to both maintain and extend the Island’s competitive edge by encouraging inward investment and economic growth.”