Seoul is the business and financial hub of South Korea. Although it accounts for only 0.6 percent of the nation's land area, 48.3 percent of South Korea's bank deposits were held in Seoul in 2003, and the city generated 23 percent of the country's GDP overall in 2012. In 2008 the Worldwide Centers of Commerce Index ranked Seoul No.9. The Global Financial Centres Index in 2015 listed Seoul as the 6th financially most competitive city in the world. The Economist Intelligence Unit ranked Seoul 15th in the list of "Overall 2025 City Competitiveness" regarding future competitiveness of cities.