Market News

According to the 2026 Global Wealth Report by Boston Consulting Group, Hong Kong has overtaken Switzerland as the world’s leading center for cross-border wealth management for the first time.

Hong Kong now manages about $2.95 trillion in offshore wealth, slightly ahead of Switzerland’s $2.94 trillion.

The shift was driven largely by:

• Strong inflows of wealth from mainland China
• Recovery in IPO activity during 2025
• Growing Asian demand for offshore diversification
• Hong Kong’s role as a gateway between Chinese capital and global markets.

Around 60% of Hong Kong’s offshore wealth reportedly originates from mainland China.

The report also noted that:

• Hong Kong and Singapore are expected to grow offshore wealth assets by roughly 9–12% annually through 2030
• Switzerland is expected to grow more slowly, at around 6% annually
• Wealthy clients are increasingly diversifying assets across jurisdictions because of geopolitical risks.

Despite losing the top spot, Switzerland remains highly attractive for politically neutral wealth preservation, especially for clients from regions facing instability.

Earlier Bloomberg Intelligence projections had already forecast Hong Kong overtaking Switzerland by 2025–2026.