Some countries and cities are crucial for international finance, despite their modest GDP and population size. Here are some European examples:
- Geneva (with Zug and Lugano) handles up to 60% of the international trade in certain commodities (cereals, cocoa, coffee, sugar, metals, oil, cotton)1.
- Luxembourg is the domicile of collective investment funds which combined hold assets worth more than 5 trillion dollars. Luxembourg is also a banking center.
- Ireland is the global leader in aviation finance. It is also an international fund center, albeit smaller than Luxembourg.