Hong Kong overtakes Switzerland as world's top cross-border wealth hub
BCG said cross-border wealth reached $2.9 trillion in Hong Kong, while Switzerland is projected to grow to $4 trillion by 2030.
- On Wednesday, Hong Kong overtook Switzerland as the top global booking centre for cross-border wealth with $2.95 trillion, Boston Consulting Group said, a shift unlikely to reverse as Asian hubs grow faster than the European safe-haven.
- Mainland China's financial wealth expanded 15% in 2025 and is projected to grow 9% annually through 2030, with an IPO boom fueling Hong Kong's rise and cementing its role as China's gateway to global markets.
- Global cross-border wealth rose 8.4% to $15.7 trillion in 2025, driven by market performance and geographical diversification demand; the top 10 booking centres captured nearly 90% of new flows.
- Michael Kahlich, Boston Consulting Group co-author, said 'What ultimately matters is client proximity,' noting two regional hubs forming—Singapore and Hong Kong for Asia, Switzerland, UK and US for the West.
- Emerging markets will add $12 trillion in financial wealth through 2030, with India leading at more than $2 trillion, while wealth managers target the underserved affluent segment earning $250,000 to $5 million.
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Hong Kong Overtakes Switzerland: Is the Global Wealth Map Moving East?
For decades, Switzerland occupied an almost mythical position in global finance. If you were ultra-wealthy and wanted discretion, stability, and cross-border asset management, Swiss private banking was the gold standard. Zurich and Geneva were not just financial centres; they were vaults for global capitalism itself. But that era may be entering a profound transition.
(Seoul = Yonhap News) Reporter Kim Tae-kyun = Hong Kong has overtaken Switzerland, the "epitome of an asset safe haven," for the first time to become the world's largest offshore asset management hub, according to financial...
Hong Kong overtakes Switzerland as world's top cross-border wealth hub on China ties
ZURICH — Hong Kong has overtaken Switzerland as the top global booking centre for cross-border wealth, a first that is unlikely to be reversed as hubs in Asia grow faster than the European safe-haven, Boston Consulting Group (BCG) said on Wednesday.
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