Published Wed, May 27, 2026 \u00b7 04:56 PM<\/p>\n
[HONG KONG] Hong Kong has narrowly overtaken Switzerland to become the world\u2019s largest cross-border wealth hub, driven by an influx of mainland Chinese capital and a resurgent local equity market.<\/p>\n
Offshore assets booked in the Asian city in 2025 rose 10.7 per cent to US$2.9 trillion, Boston Consulting Group\u2019s (BCG) 2026 Global Wealth Report showed.<\/p>\n
BCG forecast that Asia\u2019s rapid wealth accumulation will widen the gap between Hong Kong and Switzerland to nearly US$600 billion by 2030, bolstered by China\u2019s manufacturing dominance and a revival in Hong Kong\u2019s initial public offering market.<\/p>\n
The shift comes as global private fortunes expand at their fastest clip since 2021, defying tariffs and macroeconomic instability to reach a total of US$333 trillion.<\/p>\n
While Hong Kong and Singapore form an expanding ecosystem serving Asian capital, Switzerland, the US and the UK remain the primary conduits for European, Middle Eastern and Latin American wealth.<\/p>\n
\u201cWe are seeing wealth creation, cross-border capital flows and investment ecosystems increasingly concentrate into a smaller number of globally connected hubs,\u201d said Michael Kahlich, a BCG managing director and partner and co-author of the report. \u201cHong Kong\u2019s rise reflects the growing gravitational pull of Asian wealth and capital markets.\u201d<\/p>\n
This wealth surge has directly supercharged Hong Kong\u2019s family office ecosystem. Single family offices grew 25 per cent from 2023, reaching 3,384 by the end of last year. A government-commissioned Deloitte survey revealed that each manages at least US$10 million, with more than 1,000 overseeing US$100 million or more.<\/p>\n
To reclaim its allure after years of pandemic restrictions and political shifts, Hong Kong is aggressively pitching its low taxes, deep talent pool and booming capital markets to the global elite.<\/p>\n