The Virgin Islands maintained its 40th place ranking in a biannual list of 75 global financial centres, at the same time the status of other offshore financial centres was downgraded.

According to the Global Financial Centres Index 9 published last week, the territory’s competiveness as a financial centre stayed at 40th place overall. Previously the VI was tied at 40 with Brussels, Belgium, which has since slipped to 41.

The new ranking places the VI directly behind Wellington, New Zealand and the Cayman Islands, which are tied for 38th place.

The VI’s rating as a financial centre, which is measured on a scale of zero to 1,000, also increased to 584 — up from 582 last year.

The GFCI, which is sponsored by the Qatar Financial Centre Authority, rates and ranks financial centres using indices that measure five areas: people, business, environment, market access and general competitiveness.

See the March 24, 2011 edition for full coverage.