Importantly, most centres will offer local expertise that is on par with London, New York and Singapore, at significantly lower costs than would be the case for the large global financial centres. In this essay we cite evidence of Barbados’ competitive standing in international financial markets.
How IBFS centres contribute to global efficiency The main factors which make international firms that use well regulated, well networked IBFS centres more efficient than the competition include: •  Such centres may reduce market frictions and information costs to the international firms whose subsidiaries they host;  •  They are able to offer internationally comparable skills at lower wages and other costs; and  •  They offer a corporate tax regime which provides for lower taxes on value added in the export of goods and services.