WAIFC unveils framework to measure financial centers’ impact

The World Alliance of International Financial Centers has released a report in Busan, South Korea, that proposes a common framework for measuring the economic and international contribution of financial centers. The report says member ecosystems support more than 4.2 million jobs and more than $750 billion in value added, as financial centers face rising competition, technology shifts and regulatory pressure.

Why it matters: - Financial centers are major economic engines, but their impact has often been measured inconsistently or reduced to simple rankings. - WAIFC’s new framework aims to give centers, policymakers and investors a shared way to assess value creation, compare progress over time and strengthen policy dialogue. - The report also reflects a broader shift in how financial centers are judged: not just by market size, but by jobs, capital flows, innovation, talent and institutional development.

What happened: - The World Alliance of International Financial Centers launched a new report in Busan, South Korea, on Sept. 17, 2026. - The report is titled “The Impact of Financial Centers: A common framework for understanding value-creation models, measuring contribution and guiding action.” - WAIFC developed the report with support from SouthBridge and Afi. - Casablanca Finance City coordinated the project. - WAIFC member institutions contributed data, insights and feedback throughout the project.

The details: - The report introduces a common framework to measure the economic, institutional and international contribution of financial centers. - The framework includes 59 key indicators across 24 thematic areas. - The indicators cover the different channels through which financial centers generate economic and wider value. - The report does not rank centers against one another. - Instead, it identifies four broad archetypes: Host Economy Catalysts, International Financial Gateways, Domestic Specialized Hubs and International Specialized Hubs. - The report says individual centers can combine characteristics of multiple models and evolve over time. - Across members with available data, financial-center activity supports more than 4.2 million jobs. - Across those same members, financial-center activity generates more than $750 billion in value added. - Among members with comparable data, financial-center activity represents 10% to 15% of tertiary-sector GDP on average. - Among those members, financial-center activity represents 7% to 12% of national fiscal receipts on average. - WAIFC says companies, investors and institutions in member ecosystems come from at least 130 countries. - The report says financial centers connect capital, businesses, talent and expertise across markets. - The report says financial centers contribute to employment, value creation, capital flows, innovation, talent, institutional development and the international attractiveness of host economies. - A full copy of the report is available as The Impact of Financial Centers.

Between the lines: - The timing reflects pressure on financial centers from technological disruption, artificial intelligence, competition for capital and talent, geopolitical fragmentation and changing regulatory requirements. - WAIFC is positioning the report as a move away from subjective comparisons and toward evidence-based evaluation. - The framework could also help member centers explain their role more clearly to local governments and market participants. - The emphasis on archetypes suggests WAIFC wants a model that works for different markets, not just global financial hubs.

What's next: - WAIFC says the framework is meant to help financial centers assess their contribution, identify areas for development and track progress over time. - The report is also intended to support stronger dialogue among financial centers, policymakers, regulators, investors and other stakeholders. - WAIFC plans to use the publication as part of its broader role as a collaboration platform for established and emerging financial centers. - The organization says members can use the common framework to share experience, build shared perspectives and strengthen their contribution to the global financial system.

The bottom line: - WAIFC is trying to turn the case for financial centers from broad claims into measurable evidence.